Photographs: Michael Buholzer/Reuters
While almost all banks cater to general public, there are some financial institutions that target only the wealthy.
Let's take a look at some banks that manage the wealth of richest families in the world.
Source: Bloomberg Visual Data
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25 banks that target only richest families in the world
Image: Office of HSBC in Zurich, Switzerland.Photographs: Arnd Wiegmann/Reuters
HSBC Private Wealth Solutions
Main office: Hong Kong
Number of families: 340
Assets under advisements: $137.3 billion
Year-on-year change: Plus 11 per cent
Overall rank: 1
HSBC Private Bank provides services to high net-worth individuals and their families through more than 80 locations in about 36 countries and territories in Europe, Asia-Pacific, the Americas, the Middle East and Africa.
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25 banks that target only richest families in the world
Image: Homepage of Northern Trust website.Photographs: Source, northerntrust.com
Northern Trust
Main office: Chicago
Number of families: 3,457
Assets under advisements: $112.0 billion
Year-on-year change: Plus 23 per cent
Overall rank: 2
Northern Trust has been delivering banking solutions to affluent customers for more than 120 years.
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25 banks that target only richest families in the world
Image: Homepage of Bessemer Trust website.Photographs: Source, bessemertrust.com
Bessemer Trust
Main office: New York
Number of families: 2,200
Assets under advisements: $77.9 billion
Year-on-year change: Plus 25 per cent
Overall rank: 3
Bessemer Trust, which was founded by Henry Phipps in 1907, has a 3:1 client-to-employee ratio, with nearly 2,200 clients and 700 employees.
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25 banks that target only richest families in the world
Image: BNY Mellon's headquarters in New York city's financial district.Photographs: Source, Brendan McDermid
BNY Mellon Wealth Management
Main office: New York
Number of families: 400
Assets under advisements: $76.0 billion
Year-on-year change: Plus 18 per cent
Overall rank: 4
The Bank of New York, the company's earliest predecessor organisation, was formed by Alexander Hamilton and other prominent citizens in 1784.
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25 banks that target only richest families in the world
Image: A sign bearing the logo of family owned private bank Pictet is pictured at the company headquarters in Geneva, Switzerland.Photographs: Denis Balibouse/Reuters
Pictet
Main office: Geneva, Switzerland
Number of families: 50
Assets under advisements: $57.3 billion
Year-on-year change: No change
Overall rank: 5
Pictet, which was founded in Geneva in 1805, focuses solely on managing the wealth of private and institutional investors. It does not engage in any form of investment banking, nor does it issue any commercial, mortgage or unsecured loans.
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25 banks that target only richest families in the world
Image: People walk in front of a branch of Swiss bank UBS in Zurich, Switzerland.Photographs: Michael Buholzer/Reuters
UBS Global Family Office
Main offices: Zurich, London, Singapore, Hong Kong and New York
Number of families: N/A
Assets under advisements: $47.5 billion
Year-on-year change: Plus 27 per cent
Overall rank: 6
UBS, which was founded in Switzerland in 1856, has a network of offices in more than 50 countries on five continents.
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25 banks that target only richest families in the world
Image: Homepage of CTC Consulting Harris myCFO website.Photographs: Source, harrismycfo.com
CTC Consulting Harris myCFO
Main office: Chicago
Number of families: 312
Assets under advisements: $35.0 billion
Year-on-year change: Plus 6 per cent
Overall rank: 7
CTC Consulting Harris myCFO serves clients across the US from 12 offices.
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25 banks that target only richest families in the world
Image: Homepage of Abbot Downing website.Photographs: Source, abbotdowning.com
Abbot Downing
Main office: Minneapolis, United States
Number of families: 594
Assets under advisements: $32.2 billion
Year-on-year change: Plus 5 per cent
Overall rank: 8
Abbot Downing provides comprehensive services to ultra-high-net-worth clients. These services include planning and family dynamics, asset management, private banking and trust, fiduciary and administrative services.
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25 banks that target only richest families in the world
Image: Homepage of US Trust website.Photographs: Source, ustrust.com
US Trust
Main office: New York
Number of families: 162
Assets under advisements: $31.1 billion
Year-on-year change: Plus 5 per cent
Overall rank: 9
US Trust, which was founded in 1853, provides access to investments across a broad spectrum of traditional, alternative and non-financial asset classes.
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25 banks that target only richest families in the world
Image: Homepage of Wilmington Trust website.Photographs: Source, wilmingtontrust.com
Wilmington Trust
Main office: Wilmington, Delaware
Number of families: 436
Assets under advisements: $24.6 billion
Year-on-year change: Down 23 per cent
Overall rank: 10
Wilmington Trust, which was founded in 1903, has customers in all 50 states in America and 35 other countries.
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25 banks that target only richest families in the world
Image: Homepage of Hawthorn website.Photographs: Source, hawthorn.pnc.com
Hawthorn (PNC Financial)
Main office: Philadelphia
Number of families: 580
Assets under advisements: $23.1 billion
Year-on-year change: Plus 8 per cent
Overall rank: 11
Hawthorn, which was founded in mid-1800, is one of the largest US multi-family office service providers with hub concentrations in Philadelphia, Pittsburgh, Baltimore, Wilmington and Cleveland.
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25 banks that target only richest families in the world
Image: Homepage of Rockefeller & Company website.Photographs: Source, rockefellerfinancial.com
Rockefeller & Company
Main office: New York
Number of families: 259
Assets under advisements: $23.1 billion
Year-on-year change: Plus 10 per cent
Overall rank: 12
Rockefeller & Company, which was founded in 1882, serves a wide range of individuals and institutions.
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25 banks that target only richest families in the world
Image: Homepage of Glenmede website.Photographs: Source, glenmede.com
Glenmede
Main office: Philadelphia
Number of families: 211
Assets under advisements: $21.4 billion
Year-on-year change: Plus 7 per cent
Overall rank: 13
Glenmede, which was founded in 1956, has 6:1 client-to-employee ratio and offices in all 50 states in America.
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25 banks that target only richest families in the world
Image: Homepage of Atlantic Trust website.Photographs: Source, atlantictrust.com
Atlantic Trust (Invesco)
Main office: Atlanta
Number of families: 2,296
Assets under advisements: $19.5 billion
Year-on-year change: Plus 9 per cent
Overall rank: 14
Atlantic Trust provides services to affluent individuals, multi-generational families as well as foundations.
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25 banks that target only richest families in the world
Image: Homepage of GenSpring Family Offices website.Photographs: Source, genspring.com
GenSpring Family Offices (affiliate of Suntrust Banks)
Main office: Jupiter, Florida
Number of families: 442
Assets under advisements: $15.8 billion
Year-on-year change: Down 5 per cent
Overall rank: 15
GenSpring Family Offices, which was founded in 1989, oversee and manage the financial lives of wealthy families and have the freedom to invest their money with providers around the world.
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25 banks that target only richest families in the world
Image: Homepage of Veritable website.Photographs: Source, veritablelp.com
Veritable
Main office: Newtown Square, Pennsylvania
Number of families: 203
Assets under advisements: $11.3 billion
Year-on-year change: Plus 10 per cent
Overall rank: 16
Veritable, which was founded in 1986, has three primary functional areas: chief investment officers, research analysts and trading, operations and technology specialists.
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25 banks that target only richest families in the world
Image: Homepage of Silvercrest Asset Management website.Photographs: Source, silvercrestgroup.com
Silvercrest Asset Management
Main office: New York
Number of families: 365
Assets under advisements: $10.6 billion
Year-on-year change: Plus 4 per cent
Overall rank: 17
Silvercrest Asset Management Group is an independent, employee-owned, registered investment advisor which provides asset management and family office services to families and select institutional investors, according to its website.
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25 banks that target only richest families in the world
Image: Homepage of Oxford Financial Group website.Photographs: Source, ofgltd.com
Oxford Financial Group
Main office: Carmel, Indiana
Number of families: 232
Assets under advisements: $10.4 billion
Year-on-year change: Plus 3 per cent
Overall rank: 18
Oxford Financial Group, which was founded 30 years ago, offers a complete range of services and access to global investment opportunities and best-in-class multi-generational estate and financial planning strategies, according to its website.
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25 banks that target only richest families in the world
Image: Homepage of Whittier Trust website.Photographs: Source, whittiertrust.com
Whittier Trust
Main office: South Pasadena, California
Number of families: 290
Assets under advisements: $8.9 billion
Year-on-year change: Plus 16 per cent
Overall rank: 19
Whittier Trust, which was founded in late 1980s, is the largest independently owned family office headquartered on the West Coast in the United States.
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25 banks that target only richest families in the world
Image: Homepage of Commerce Family Office website.Photographs: Source, commercebank.com
Commerce Family Office
Main office: St Louis, Missouri
Number of families: 79
Assets under advisements: $8.8 billion
Year-on-year change: Plus 35 per cent
Overall rank: 20
Commerce Family Office provides various services to wealthy families around the world.
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25 banks that target only richest families in the world
Image: Homepage of ATAG Private and Corporate Services website.Photographs: Source, atag-pcs.ch
ATAG Private and Corporate Services
Main office: Basel, Switzerland
Number of families: 50
Assets under advisements: $8.0 billion
Year-on-year change: Plus 8 per cent
Overall rank: 21
ATAG Private and Corporate Services offers services to high-net-worth families around the world.
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25 banks that target only richest families in the world
Image: Homepage of Tiedemann Wealth Management website.Photographs: Source, tiedemannwealth.com
Tiedemann Wealth Management
Main office: New York
Number of families: 96
Assets under advisements: $7.5 billion
Year-on-year change: Plus 15 per cent
Overall rank: 22
Tiedemann Wealth Management, which was founded in 1999, offers customised, comprehensive and objective wealth management advice to families and institutions.
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25 banks that target only richest families in the world
Image: Homepage of TAG Associates website.Photographs: Source, tagassoc.com
TAG Associates
Main office: New York
Number of families: 103
Assets under advisements: $7.0 billion
Year-on-year change: Plus 3 per cent
Overall rank: 23
TAG Associates, which was founded in 1983, is a leading multi-client family office and portfolio management services firm.
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25 banks that target only richest families in the world
Image: Homepage of Spudy & Co website.Photographs: Source, spudy.de
Spudy & Co
Main office: Hamburg, Germany
Number of families: 80
Assets under advisements: $6.6 billion
Year-on-year change: Plus 27 per cent
Overall rank: 24
Spudy & Co manages wealth of some of the richest families in the world.
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25 banks that target only richest families in the world
Image: Homepage of Bedrock website.Photographs: Source, bedrockgroup.ch
Bedrock
Main offices: Geneva, Monaco and London
Number of families: 70
Assets under advisements: $6.0 billion
Year-on-year change: Plus 20 per cent
Overall rank: 25
Bedrock provides multi-asset investment solutions ultra-high-net-worth individuals and families, endowments and foundations.
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