Credit Agricole’s private banking division
posted a 12% year-on-year increase in AuM to €128.2bn ($176.4bn) at
year-end 2010.

The bank said that 55% of the private banking
arm’s AuM is abroad, with continued expansion in high growth
regions, primarily Asia and Latin America.

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The French bank’s net new inflows totalled
€7.2bn in 2010, including €1.5bn in the fourth quarter.

 

Sarasin eyes CHF150bn by 2015

Bank Sarasin boosted its total group assets
under management (AuM) 11% to CHF103bn ($111bn) in 2010 and is
targeting AuM of CHF150bn by 2015.

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The bank said new money inflows of CHF13.4bn
drove the group AuM increase, which represented an annual growth
rate of 14%.

Sarasin’s core private banking business, which
includes two business units Switzerland & Europe and Middle
East & Asia, reported AuM of CHF46.4bn at year-end 2010.

 

RBS wealth profits drop

Meanwhile, Royal Bank of Scotland (RBS) logged a 5% increase in
AuM for its wealth management arm – comprised of Coutts & Co
and Adam & Co. AuM at the end of 2010 – excluding deposits –
stood at £30.7bn ($49.6).

The wealth division reported a fall in operating profit, before
impairment losses, of £322m ($521m) in 2010, from £453m in
2009.

RBS said the fall in profit in the year ending 31 December 2010
was due to escalating expenses, including expanded employee
numbers, and lower net interest income which fell to 3.37% from
4.38% in the prior fiscal.

 

Vontobel new-money, pre-tax profit
boost

Vontobel’s private bank AuM totalled CHF29.6bn
($31.9bn) at the end of 2010, a 0.3% dip compared to 2009.

Net inflow of new money trebled to CHF1.2bn
compared to 2009. The bank said new money was acquired primarily in
Vontobel’s Swiss home market as well as in Central and Eastern
Europe.

The division’s pre-tax profit rose 129% from
CHF21.2m to CHF48.5m in 2010.