20. Wells Fargo | U.S. | $224 billion
19. Bank of China Private Banking | China | $226 billion (Dec. 31, 2019)
(Photo: Roy Liu/Bloomberg)
18. Deutsche Bank Wealth Management | Germany | $232 billion
19. LGT Group | Lichtenstein | $240.2 billion (Dec. 31, 2019) (Photo: Valentin Flauraud/Bloomberg )
16. Pictet Wealth Management | Switzerland | $242 billion
15. BNY Mellon Wealth Management | U.S. | $254 billion
(Photo: AP)
14. Northern Trust Wealth Management | U.S. | $303.8 billion
13 China Merchants Bank Private Banking | China | $321 billion (Dec. 31, 2019)
(Photo: Brent Lewin/Bloomberg)
12. HSBC Private Bank | U.K. | $353 billion
11. Vanguard Group | U.S. | $410 billion (U.S. private clients) as of Jan. 31, 2019
(Photo: Shutterstock)

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10. Julius Baer | Switzerland | $423.5 billion
9. BNP Paribas Wealth Management | France | $424 billion
(Photo: AP)
8. Citi Private Bank | U.S. | $500 billion
7. Charles Schwab | U.S. | $506.3 billion (Dec. 31, 2019)
(Photo: Bloomberg)
6. Goldman Sachs | U.S. | $558 billion
5. J.P. Morgan Private Bank | U.S. | $677 billion
(Photo: AP)
4. Bank of America Global Wealth & Investment Management (comprising Merrill Lynch Wealth Management and Bank of America Private Bank) | U.S. | $1.22 trillion
3. Morgan Stanley Wealth Management | U.S. | $1.24 trillion
(Photo: Bloomberg)
2. Credit Suisse | Switzerland | $1.25 trillion
1. UBS Global Wealth Management | Switzerland | $2.6 trillion
(Photo: Bloomberg)

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(Related: World’s Top 20 Biggest Asset Managers: 2020)

ADV Ratings recently announced its ranking of the world’s largest wealth management firms or top companies in global private banking. The top 20 wealth managers included 10 U.S. financial institutions, four headquartered in Switzerland, two in China and one each in France, Germany, Lichtenstein and the U.K.

See the gallery for the top 20 wealth managers, according to ADV Ratings, ranked by assets under management. The ranking uses balance sheets as of June 30 unless otherwise noted.

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