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UBS, Morgan Stanley lead in WM

UBS Group and Morgan Stanley have increased the assets they manage for the world’s wealthiest people to more than $2 trillion. According to a study by Scorpio Partnership of London, assets under management at UBS rose 3.5% to $2.04 trillion in 2014, while in Morgan Stanley it grew by 6.1% to$2.03 trillion. The study said the global wealth management industry had a solid business year in 2014 in terms of financial results for the operating model and in spite of financial market uncertainties and currency volatility, most lead players experienced overall growth in client volumes. It also said the wealth-management industry managed $20.6 trillion in investible assets of high net worth individuals at the end of December. The top 10 managers accounted for 47% of the market, with UBS controlling 9.9%.

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