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The realm of private banking has evolved beyond mere transactions – it’s about tailored services, personalized strategies, and a commitment to nurturing clients’ wealth. However, the private banking sector is notoriously anonymous, which makes it difficult to determine the exact scope of the private banking sector. In this article, we will examine the best private banks in the world based on their assets under management and long-standing reputation in the industry. The best private banks in 2024: UBS – The best private bank overall with $3.9 trillion AUM HSBC – A UK-based private banking giant Goldman Sachs – A crypto-friendly private bank Citigroup – An offering for ultra-high-net-worth clients J.P. Morgan Private Bank – The largest bank in the US by market cap Bank of America – Private bank with a focus on philanthropic services Morgan Stanley – A $1 trillion+ AUM private bank 7 best private banks: Examining top institutions for high net worth clients in 2024 The list below includes the largest banks with private banking services ranked by their assets under management (AUM) as of the end of 2022 (collected from Statista). It is worth noting that there is not a lot of publicly available information when it comes to private banks, as most of them keep their business records and information about their clients private. 1. UBS – The best private bank overall with $3.9 trillion AUM The undisputed global leader, UBS boasts unparalleled reach and expertise. Their unmatched international network, coupled with award-winning investment solutions and a dedication to responsible wealth management, make them a top choice for sophisticated investors. The bank’s private banking portfolio of services includes wealth management, asset management, and investment banking. In 2022, UBS recorded over $7.6 billion in net income, which is impressive considering the heightened interest rates and poor…

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Filed under: News - @ December 22, 2023 4:14 pm