UBS wealth inflows reach $73 billion, as Standard Chartered posts record wealth income

UBS attracted $73 billion in net new assets in the first half as it neared the final stage of its Credit Suisse integration, while Standard Chartered's wealth solutions income rose 38% to a record $2.1 billion. Deutsche Bank advanced toward its $1.1 trillion Private Bank asset target, St James's Place reported record funds under management (FUM), and Amundi posted record net income and inflows.

The results show wealth management remaining a major growth engine for banks and asset managers, supported by client inflows, investment-product demand and market gains. OCBC's use of agentic AI to speed up private banking onboarding and Indosuez's relocation of global advisory leadership to Singapore underscore how private banks are investing directly in faster service and locally based decision-making to serve wealthy clients in Asia.

Read more on the week's key developments:

UBS posts $73 billion in wealth inflows as Credit Suisse integration nears completion

UBS reported on 29 July 2026 that its Global Wealth Management division attracted $36 billion in net new assets in the second quarter of 2026 and $73 billion over the first half, as group invested assets reached $7.3 trillion. Group net profit was $2.8 billion for the quarter and $5.8 billion for the half-year, with underlying transaction-based income in the wealth division up 23% year-on-year (YoY).

UBS said its integration of Credit Suisse remains on track for completion by the end of 2026, with more than 90% of legacy applications no longer in use and about 70% already fully decommissioned, alongside cumulative gross cost savings of $12.6 billion against a year-end target of roughly $13.5 billion. Sustained wealth inflows through the final stages of the integration suggest client retention has remained resilient as the multi-year process nears its conclusion.

Standard Chartered's wealth income hits a record $2.11 billion in H1 2026

Standard Chartered's half-year report, published on 29 July 2026, showed wealth solutions income rising 38% YoY to a record $2.107 billion, driven by a 46% increase in investment products and 15% growth in bancassurance. Affluent net new money reached a record $33 billion in the first half, supported by 150,000 new-to-bank client acquisitions, and pre-tax profit in the wealth and retail banking division rose 61%.

The results reflect continued investment in affluent business growth, including the hiring of relationship managers and enhanced digital capabilities, partly funded through efficiency savings in the business. Record wealth solutions income and affluent net new money suggest this investment is translating into both revenue growth and client acquisition, reinforcing wealth and retail banking's role as a primary growth engine alongside the bank's network-led corporate business.

Deutsche Bank's Private Bank client assets climb to $922 billion

Deutsche Bank reported on 29 July 2026 that client assets in its Private Bank division rose by EUR 56 billion ($64 billion) in the first half of 2026 to EUR 846 billion ($922 billion), including a EUR 25 billion ($27 billion) increase in the second quarter, as the division works towards its 2028 target of EUR 1 trillion ($1.1 trillion). Wealth management revenue within the division grew 11% YoY in the second quarter, as part of a record group post-tax profit.

The bank cited strategic hiring in wealth management, while chief executive Christian Sewing pointed to AI as a source of client value and cost savings, as group profit reached a record EUR 1.9 billion ($2.1 billion). The division's first-half growth keeps it on track toward its 2028 target, though sustaining that pace will depend on net inflows rather than market appreciation alone.

St James's Place lifts FUM to a record $305.8 billion as profit falls

St James's Place, the United Kingdom's largest wealth manager, reported on 29 July 2026 that FUM reached a record GBP 240.8 billion ($305.8 billion) at the end of the first half of 2026. Net inflows fell to GBP 2.7 billion ($3.4 billion) from GBP 3.8 billion ($5.1 billion) a year earlier, and adjusted profit after tax fell to GBP 224.4 million ($285 million) from GBP 235.8 million ($317 million). Client retention edged up to 95.4% from 95.3%.

Chief executive Mark FitzPatrick said investment returns of 16.4% of opening FUM mainly drove the record figure, with the increase reflecting market performance rather than new client money, even as inflows and profit fell YOY. The results mark a shift from a Strengthen phase, focused on fee restructuring since 2023, into a new Amplify phase from 2027, with the retention gain suggesting the overhaul has not cost the firm scale.

Amundi's AUM approach $2.83 trillion on record inflows

Amundi reported on 30 July 2026 that assets under management (AUM) reached close to EUR 2.6 trillion ($2.83 trillion) at the end of the first half of 2026, as net inflows hit a first-half record of EUR 56 billion ($61 billion). Adjusted net income for the second quarter climbed 29% YoY to EUR 431 million ($469 million), the highest quarterly figure in the asset manager's history, while the firm had completed around 70% of its EUR 500 million ($544 million) buyback programme as of 27 July.

Retirement products contributed EUR 8 billion ($9 billion) of second-quarter inflows, with diversified growth also reported across Asia and Europe. As one of the largest suppliers of funds to third-party private banks and wealth platforms, Amundi's record inflows into medium- and long-term products point to sustained distributor demand for diversified portfolios, even against a volatile rate environment.

Dubai enlists Julius Baer to convert family office growth

Family-related entities registered at the Dubai International Financial Centre (DIFC) rose 36% YoY to 1,408 in the first half of 2026, while registered foundations climbed 67% to 1,409, DIFC said on 28 July 2026. A day earlier, Dubai's Department of Economy and Tourism signed a strategic agreement with Julius Baer (Middle East), a unit of the Swiss wealth manager with CHF547 billion ($684 billion) under management, to help convert investor interest into family offices established in the emirate.

Pairing a government department with a named private bank to court family offices signals active competition for the potential advisory and investment relationships associated with new establishments. DIFC's continued expansion, alongside Abu Dhabi Global Market, reinforces the Gulf's ambition to compete more directly with Singapore and Hong Kong for succession and governance business as global private banks deepen their coverage of the region.

Corient adds $4.9 billion New York multi-family office Seven Bridges

Corient, which describes itself as the world's largest multi-family office and non-bank wealth manager for UHNW and high-net-worth (HNW) clients, announced on 28 July 2026 that it has added Seven Bridges Advisors, a New York-based registered investment advisor (RIA) with $4.9 billion in AUM. Seven Bridges, founded by Larry Cohen, serves entrepreneurs, founders and financial-services executives, with deep capabilities in private-markets investing. Corient, backed by Abu Dhabi's Mubadala, now manages approximately $535 billion globally across more than 300 partners.

Seven Bridges principals will become Corient partners on completion of the acquisition, extending a partnership model built to give clients access to the firm's collective expertise across every relationship. The deal continues Corient's own run of UHNW-focused acquisitions, extending its scale against both private banks and independent RIAs in the US market.

Sun Life launches integrated private wealth platform for HNW clients

Sun Life announced on 28 July 2026 the launch of Sun Life Private Wealth, an integrated platform serving HNW and UHNW clients, families and advisers across Bermuda, Dubai, Hong Kong and Singapore. The launch follows Sun Life's authorisation by the Dubai Financial Services Authority (DFSA) to establish a DIFC presence, and consolidates 18 months of work unifying intake, underwriting and client-service processes, drawing on its 30-year HNW insurance history, which began in Bermuda in 1996.

Global HNW individual wealth rose 8.7% to $98.3 trillion in 2025, with Asia Pacific recording the fastest regional growth at 10.5%, while the United Arab Emirates drew a record net inflow of nearly 10,000 millionaires, Sun Life said, citing Capgemini and Henley & Partners data. Bringing underwriting, service and distribution under one platform lets Sun Life serve clients whose assets and family span Asia and the Gulf.

OCBC cuts private-bank onboarding to 15 days with agentic AI

OCBC said on 29 July 2026 that its private banking arm, Bank of Singapore, has begun using an agentic AI platform called HELIOS to open private banking accounts in 15 business days, half the roughly six-week industry median. Relationship managers in Singapore, Hong Kong and Dubai have started using the system, with roll-out due to complete by the third quarter of 2026, extending later to OCBC's Premier Private Client segment.

HELIOS front-loads and automates the collection, verification and assessment of customer due-diligence data before a relationship manager engages a prospective client, completing most know-your-customer checks in advance and surfacing qualified leads to relationship managers, which OCBC described as a first for a bank in Southeast Asia. The move anticipates the Monetary Authority of Singapore's push to bring account-opening timelines for the sector to within one month by end-2026.

Indosuez relocates global advisory leadership to Singapore

Indosuez Wealth Management, the global wealth brand of Credit Agricole Group, announced on 30 July 2026 that it has relocated global leadership of its Advisory Solutions and Capital Markets business from Geneva to Singapore, effective 1 August. Muriel Aboud Schirmann, head of advisory and capital markets for the private bank's Swiss operations, relocates to take up the role, while Louis Shen, formerly of Nomura, joins as the newly created head of discretionary portfolio management (DPM) for Asia.

The relocation anchors decision-making for advisory and capital-markets products in Asia rather than Europe, reflecting Indosuez's view of the region as a major source of new UHNW and HNW client demand. Pairing the move with a new Asia DPM role signals the bank is restructuring authority around Asia, a distinction relevant to private banks weighing whether to relocate genuine authority or simply expand client-facing headcount while keeping it centralised in Europe.

What to watch next

Investors will look for UBS to sustain net new asset growth as it works towards substantially completing the Credit Suisse integration by the end of 2026. Deutsche Bank's third-quarter results will provide a further measure of progress towards its $1.1 trillion Private Bank asset target by 2028. Standard Chartered's and OCBC's respective AI programmes, agentic advisory and HELIOS onboarding, move from initial roll-out toward fuller deployment over the coming quarters, providing the first real test of client and adviser response. At Indosuez, the relocation of global advisory leadership to Singapore took effect on 1 August 2026; the coming quarters will show whether moving decision-making closer to Asian clients accelerates product delivery and improves regional execution.