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Top 20 banks where rich put their wealth
Bloomberg Markets Magazine has ranked top firms that manage money for the wealthiest families in the world.
Let's take a look at some of these firms.
Source: Business Insider
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Top 20 banks where rich put their wealth
HSBC Private Wealth Solutions
Assets under advisement: $123.6 billion
Year-on-Year change: +21 per cent (No. 1)
Location: Geneva, Lugano and Zurich
Number of families: 297
Average amount invested per family: $416 million (No. 2)
Global rank: 1
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Top 20 banks where rich put their wealth
Northern Trust Corporation
Assets under advisement: $90 billion
Year-on-Year change: +8 per cent (No. 6-tie)
Location: Chicago
Number of families: 4,101
Average amount invested per family: $22 million (No. 18)
Global rank: 2
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Top 20 banks where rich put their wealth
BNY Mellon Wealth Management
Assets under advisement: $64.5 billion
Year-on-Year change: -1 per cent (No. 17)
Location: New York
Number of families: 424
Average amount invested per family: $152 (No.7)
Global rank: 3
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Top 20 banks where rich put their wealth
Bessemer Trust
Assets under advisement: $62.4 billion
Year-on-Year change: +1 per cent (No. 15)
Location: New York
Number of families: 2,100
Average amount invested per family: $30 million (No. 16)
Global rank: 4
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Top 20 banks where rich put their wealth
Pictet
Assets under advisement: $57.3 billion
Year-on-Year change: +3 per cent (No. 10-tie)
Location: Geneva
Number of families: 50
Average amount invested per family: $1.15 billion (No. 1)
Global rank: 5
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Top 20 banks where rich put their wealth
UBS Global Family Office
Assets under advisement: $37.3 billion
Year-on-Year change: N/A
Location: Zurich
Number of families: 125
Average amount invested per family: $298 million (No. 3)
Global rank: 6
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Top 20 banks where rich put their wealth
Wilmington trust (M&T Bank)
Assets under advisement: $31.9 billion
Year-on-Year change: +6 per cent (No. 8-tie)
Location: Wimington, Delaware
Number of families: 306
Average amount invested per family: $104 million (No. 9)
Global rank: 7
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Top 20 banks where rich put their wealth
Abbot Downing (Wells Fargo)
Assets under advisement: $30.6 billion
Year-on-Year change: +12 per cent (No. 4)
Location: Minneapolis
Number of families: 597
Average amount invested per family: $51 million (No. 14)
Global rank: 8
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Top 20 banks where rich put their wealth
US Trust (Bank of America)
Assets under advisement: $29.6 billion
Year-on-Year change: +3 per cent (No. 10-tie)
Location: New York
Number of families: 163
Average amount invested per family: $182 million (No. 5)
Global rank: 9
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Top 20 banks where rich put their wealth
Hawthorn (PNC Financial)
Assets under advisement: $21.3 billion
Year-on-Year change: +9 per cent (No. 5)
Location: Philadelphia
Number of families: 550
Average amount invested per family: $39 million (No. 15)
Global rank: 10
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Top 20 banks where rich put their wealth
Rockefeller Financial
Assets under advisement: $21 billion
Year-on-Year change: +14 per cent (No. 3)
Location: New York
Number of families: 238
Average amount invested per family: $88 million (No. 10-tie)
Global rank: 11
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Top 20 banks where rich put their wealth
Glenmede
Assets under advisement: $20.5 billion
Year-on-Year change: +3 per cent (No. 10-tie)
Location: Philadelphia
Number of families: 163
Average amount invested per family: $126 million (No. 8)
Global rank: 12
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Top 20 banks where rich put their wealth
Atlantic Trust Private Wealth Management (Invesco)
Assets under advisement: $17.3 billion
Year-on-Year change: +6 per cent (No. 8-tie)
Location: Atlanta
Number of families: 2,212
Average amount invested per family: $8 million (No. 19)
Global rank: 13
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Top 20 banks where rich put their wealth
GenSpring Family Offices (affiliate of SunTrust Banks)
Assets under advisement: $17.5 billion
Year-on-Year change: -12 per cent (No. 18)
Location: Jupiter, Florida
Number of families: 654
Average amount invested per family: $27 million (No. 17)
Global rank: 14
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Top 20 banks where rich put their wealth
Harris myCFO (BMO Financial Group)
Assets under advisement: $16.1 billion
Year-on-Year change: -13 per cent (No. 19)
Location: Palo Alto, California
Number of families: 239
Average amount invested per family: $67 million (No. 12)
Global rank: 15
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Top 20 banks where rich put their wealth
Oxford Financial Group
Assets under advisement: $12.1 billion
Year-on-Year change: -13 per cent (No. 19)
Location: Carmel, Indiana
Number of families: 76
Average amount invested per family: $159 million (No. 6)
Global rank: 16
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Top 20 banks where rich put their wealth
Veritable
Assets under advisement: $10.3 billion
Year-on-Year change: +2 per cent (No. 13-tie)
Location: Newtown Square, Pennsylvania
Number of families: 193
Average amount invested per family: $53 million (No. 13)
Global rank: 17
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Top 20 banks where rich put their wealth
Silvercrest Asset Management
Assets under advisement: $10.2 billion
Year-on-Year change: +8 per cent (No. 6-tie)
Location: New York
Number of families: 116
Average amount invested per family: $88 million (No. 10-tie)
Global rank: 18
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Top 20 banks where rich put their wealth
Frankfurt Family Office (Deutsche Bank)
Assets under advisement: $9.8 billion
Year-on-Year change: zero per cent (No. 16)
Location: Frankfurt
Number of families: 50
Average amount invested per family: $196 million (No. 4)
Global rank: 19 (tie)
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Top 20 banks where rich put their wealth
Johnson Investment Counsel
Assets under advisement: $9.8 billion
Year-on-Year change: +2 per cent (No. 13-tie)
Location: Cincinnati
Number of families: N/A
Average amount invested per family: N/A
Global rank: 19 (tie)