Asia 2019 RM Headcount League Table

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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.

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Asia (ex-China onshore) RM headcount

RANKBANK2019 Asia2018 AsiaYoY change2015-19 RM
CAGR
19 global RM count
1UBS Global Wealth Management   1,0411,138-8.5%-1.2%10,077
2HSBC Private Banking645541+19.2%+10.0%-
3Credit Suisse AG   600580+3.4%+0.4%3,030
4Julius Baer   427430-0.7%+12.1%1,467
5Bank of Singapore400450-11.1%+6.2%400
6Morgan Stanley Private Wealth Management   332315+5.4%+4.8%15,468
7EFG Bank   29099+192.9%+24.7%815
8BNP Paribas Wealth Management230263-12.5%-1.9%-
9Deutsche Bank Wealth Management   222204+8.8%--
10Standard Chartered Private Bank   198240-17.5%-9.9%275
11LGT   195198-1.5%+23.1%-
12J.P. Morgan Private Bank  168160+5.0%+5.6%2,890
13CIMB Private Banking   141----
14Bank of China (Hong Kong) Private Banking136131+3.8%-136
15UOB Private Bank120138-13.0%-120
16UBP11785-+73.2%328
17J. Safra Sarasin11284+33.3%+14.6%-
18CMB Private Banking107105+1.9%-1,017
19Maybank Private   10170+44.3%-101
20Goldman Sachs Private Wealth Management10090+11.1%+1.3%-
Top 20 total5,6825,555+2.3%
21Indosuez Wealth Management1001000.0%--
22Hang Seng Private Banking6867+1.5%+8.0%68
23Pictet Wealth Management   6552+25.0%+6.8%352

All figures are APB estimates unless otherwise stated. Individual bank footnotes available on ⓘ mouse hover.

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2019 AUM per RM

RANKBANKAUM per RM
(US$ million)
2019 AUM2019 RMYoY change in AUM per RM
1Goldman Sachs Private Wealth Management923.092.3100+4.6%
2Pictet Wealth Management675.443.965+0.4%
3J.P. Morgan Private Bank669.6112.5168+22.0%
4Hang Seng Private Banking523.535.668+16.2%
5UBS Global Wealth Management432.3450.01,041+37.8%
6BNP Paribas Wealth Management427.498.3230+25.7%
7Morgan Stanley Private Wealth Management394.6131.0332+18.4%
8Credit Suisse AG378.9227.3600+7.1%
9CMB Private Banking365.639.1107+28.4%
10LGT355.469.3195+23.4%
11UOB Private Bank308.337.0120+25.1%
12Julius Baer304.9130.2427+17.2%
13Standard Chartered Private Bank296.058.6198+41.5%
14Bank of Singapore292.5117.0400+29.0%
15Deutsche Bank Wealth Management286.763.7222+4.2%
16Bank of China (Hong Kong) Private Banking240.432.7136+15.4%
17HSBC Private Banking234.1151.0645+2.1%
18J. Safra Sarasin185.420.8112-12.5%
19UBP163.219.1117-9.1%
20CIMB Private Banking154.421.8141-
21Indosuez Wealth Management150.015.0100+7.1%
22Maybank Private140.614.2101-21.3%
23EFG Bank112.232.5290-40.6%

View the Asia 2019 AUM League Table

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