The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Private banking: Pure-play funds plough through private client opening

The world’s leading private banks still haven’t resolved the conflict between advising their clients and investing their assets. A decade ago, many wanted out of asset management. Now they want back in. The ensuing confusion has left a gap that pure-play asset managers are finally beginning to fill.

PB 2016 logo-196w

Results Index 

Which firm is best at managing assets of the world’s wealthiest individuals? According to the private banks that voted in Euromoney’s 2016 private banking and wealth management survey, it is not a wealth manager, it is a pure asset manager: BlackRock.  Indeed, more than any other year in the decade-plus history of the survey, this time traditional asset managers have been recognized for their products and services to the wealth management industry. Aberdeen Asset Management ranks sixth globally for asset management. Fidelity and Schroders join Aberdeen and BlackRock in the top 10 for asset management in western Europe. In North America Pimco and Alliance Bernstein rank in the top 10. In Asia, alongside those mentioned already, Franklin Templeton appears. 

Asset management was once seen as the core of wealth management. In the early 2000s private banks were building in-house asset management capabilities to complement their advisory and trust businesses. Yet banks have struggled to find the right model. Do they provide in-house asset management within wealth management? Do they separate the business units entirely as captive asset managers? Or do they get rid of asset management altogether to spare themselves the headache? Over the last seven years, they seem to have tried it all. 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree