wealthy Dan Kitwood/Getty
The private wealth management industry had a strong year in 2017 with 25 of the leading global players increasing their assets under management (AUM) by almost 14%, as the number of high net-worth individuals and affluent investors has continued to grow.

UBS tops the rankings with $2,402.8 billion AUM, over double that of its closest rival. China Merchants Bank also entered the top 10 in 2017 and was the first Chinese bank ever to do so.

Much of this success is the result of greater wealth across the Asia-Pacific region and growing interest in professional management by the high-net worth individuals there. This meant Chinese growth was about 3.5% higher then the rest of the top wealth managers, according to the research by GlobalData and Private Banker International.

Deutsche Bank, EFG International and ABN Amro were the only wealth managers in the ranking to lose ground in 2017.

15. The Industrial and Commercial Bank of China (ICBC) - $206 billion

ICBC Office, Spain
Today Online

One of China's "big four" state owned banks, ICBC is considered to be the largest bank and public company in the world by assets, with a private wealth management arm that ranks 15th in the world for AUM and climbing.

14. Wells Fargo - $248 billion

Timothy J. Sloan, President and CEO of Wells Fargo
Washington Post

The San Francisco-headquartered bank has a prominent wealth management arm and remains one of the biggest names in US banking.

13. Deutsche Bank Wealth Management - $256.8 billion

loop_oh via http://www.flickr.com/photos/loop_oh/94606523/ creative commons

The 17th largest bank in the world by total assets, wealth management is one of three pillars of Deutsche Bank's (DB) business. DB's wealth management arm is one of the few in this ranking to lose ground on AUM in 2017, giving the leadership more bad news to handle.

12. HSBC Private Bank - $258 billion

HSBC Private Bank Office
The Financial Times

The private arm of HSBC manages wealth for high-net worth individuals and families across 43 countries with subsidiaries in the UK, Switzerland, Luxembourg, Monaco and the Cayman Islands. It has climbed two places in the AUM rankings.

11. Northern Trust - $289.8 billion

Frederick Waddell, Chairman of Northern Trust
Chicago Business

It is reported that over 20% of the wealthiest families in the United States are clients of Northern Trust's wealth management arm. Unlike many competitors it is dedicated to serving corporations, institutional investors and high-net worth individuals.

10. China Merchants Bank - $292.8 billion

China Merchants Bank HQ
China Daily

Headquartered in Guandong, on the eastern coast of China, the China Merchants Bank (CMB) has been expanding both domestically and internationally. Like many of the Chinese wealth mangers in this ranking its AUM is showing strong signs of growth.

9. Julius Baer - $388.3 billion

Julius Baer
Wikimedia Commons

The Swiss bank is the oldest in the country and specialises in wealth management.

8. Goldman Sachs - $394.3 billion

Lloyd Blankfein, Chairman and CEO, Goldman Sachs
Getty/Joe Raedle

The multinational investment bank has a strong wealth management division and an excellent reputation. Its ranking is unchanged from last year.

7. BNP Paribas Wealth Management - $436.7 billion

BMP Paribas Branch
AFP

The French bank is the largest in the Eurozone and hit the top five biggest in the world after the 2008 financial crisis. Now still in the top 10, its wealth management arm maintains an impressive global ranking as 7th in the world by AUM.

6. Citi Private Bank - $460 billion

Citi Bank
REUTERS/ Keith Bedford

Focusing on ultra-rich individuals, the subsidiary of Citigroup requires individuals to have to have net-wealth of at least $25 million before becoming a client. In October 2017 it was named the best brand in private banking.

5. J.P.Morgan Private Bank - $526 billion

J.P.Morgan Chase Lobby
Andrew Burton / Getty Images

The banking giant is the second largest in the US, containing a respected wealth management arm which holds over half a trillion dollars in assets under management.

4. Credit Suisse - $792 billion

Credit Suisse CEO, Tidjane Thiam
Virginia Mayo/AP

The bulge bracket bank is comfortably in the top five private wealth managers globally by AUM.

3. Morgan Stanley - $1,045 billion

James Gorman, Chairman, Morgan Stanley Wealth Management
Andrew Burton/Getty

Created in a post financial crisis merger with a wealth management arm of Citigroup, Morgan Stanley's wealth management arm tops $1 trillion AUM putting it in the top three globally.

2. Bank of America Merrill Lynch - $1,080 billion

Merrill Lynch bull
REUTERS/Vivek Prakash

A division of Bank of America, New York based Merrill Lynch Wealth Management employs over 15,000 financial professionals and has $1.08 trillion in AUM.

1. UBS - $2,403 billion

UBS Three Keys Sign
Reuters

UBS manages the largest amount of private wealth in the world and is the undisputed giant in the sector with around half the world's billionaires reported to be clients.