The region’s (ex-China onshore) private banking relationship manager headcount remained flat, at 5,682 (+4% YoY), with only HSBC Private Banking (+19%) and EFG (+193%) posting at least double-digit percentage increases among the Top 10 by RM population.
Maybank Private (+44%) and J. Safra Sarasin (+33%) too recorded significant increases, while Standard Chartered Private Bank saw the biggest percentage decline (-18%). UBS, which also recorded a net decrease, remains the largest employer of RMs by a long stretch, with 1,041 as at the end of 2019.
Average AUM per RM of the Top 20 banks by AUM jumped 17% as asset growth outpaced headcount growth and a number of banks upped the ante on banker productivity. Goldman Sachs Private Wealth Management, which has a minimum client asset requirement of US$100 million, unsurprisingly retains the number one spot at US$923 million per RM, followed by ultra-skewed Pictet Wealth Management (US$675 million) and J.P. Morgan Private Bank (US$670 million), which has a minimum asset requirement of US$10 million.
Asia (ex-China onshore) RM headcount
All figures are APB estimates unless otherwise stated. Individual bank footnotes available on ⓘ mouse hover.
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2019 AUM per RM
|RANK||BANK||AUM per RM|
|2019 AUM||2019 RM||YoY change in AUM per RM|
|1||Goldman Sachs Private Wealth Management||923.0||92.3||100||+4.6%|
|2||Pictet Wealth Management||675.4||43.9||65||+0.4%|
|3||J.P. Morgan Private Bank||669.6||112.5||168||+22.0%|
|4||Hang Seng Private Banking||523.5||35.6||68||+16.2%|
|5||UBS Global Wealth Management||432.3||450.0||1,041||+37.8%|
|6||BNP Paribas Wealth Management||427.4||98.3||230||+25.7%|
|7||Morgan Stanley Private Wealth Management||394.6||131.0||332||+18.4%|
|8||Credit Suisse AG||378.9||227.3||600||+7.1%|
|9||CMB Private Banking||365.6||39.1||107||+28.4%|
|11||UOB Private Bank||308.3||37.0||120||+25.1%|
|13||Standard Chartered Private Bank||296.0||58.6||198||+41.5%|
|14||Bank of Singapore||292.5||117.0||400||+29.0%|
|15||Deutsche Bank Wealth Management||286.7||63.7||222||+4.2%|
|16||Bank of China (Hong Kong) Private Banking||240.4||32.7||136||+15.4%|
|17||HSBC Private Banking||234.1||151.0||645||+2.1%|
|18||J. Safra Sarasin||185.4||20.8||112||-12.5%|
|20||CIMB Private Banking||154.4||21.8||141||-|
|21||Indosuez Wealth Management||150.0||15.0||100||+7.1%|
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