List of World’s 10 Largest Banking Institutions 2008
Here is a list of the top 10 banking institutions in 2008. There has been a major shake up of the world’s financial institutions in 2008/2009 and the final result at the end of 2009 could have a very different look. These banks also offer some measure of Private Banking and some are full privacy banks and their scope is worldwide.
Private Banking is still a huge business. They cater to HNW or high net worth clients who want the best of everything the banks have to offer – stocks, derivitives, bonds, cash or currency management/transfers and all manner of financial management. But not all these banks are full 100% privacy Private Banks, but still offer a limited measure of asset protection.
Citi Group takes top spot in 2008.
Here are the top 10 biggest banks in 2008. (2007 rank in brackets).
1. Citigroup (1)
Citi.com (Citi Group) is the global source of information about and access to financial services provided by the Citigroup family of companies…
2. Goldman Sachs (2)
Their financial activities are divided into three segments: Investment Banking; Trading and Principal Investments; Asset Management and Securities Services
3. UBS (3)
UBS is a leading global wealth manager, a leading, global investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. With headquarters in Zurich and Basel, Switzerland, UBS operates in over 50 countries and from all major international centers.
4. Credit Suisse (5)
Credit Suisse is a leading global financial services company, offering clients financial advice in all aspects of private banking, investment banking and asset management.
5. JPMorgan (4)
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM).
6. Morgan Stanley (8)
Since 1935, Morgan Stanley has served as the preeminent financial advisor to companies, governments and investors from around the world.
7. Merrill Lynch (9)
Bank of America now owns Merrill Lynch. In combination they become:
The largest brokerage in the world, with more than 20,000 advisors and $2.5 trillion in client assets
A leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity and global M&A. A global leader in wealth management, private banking and retail brokerage.
8. HSBC (6)
HSBC takes pride in their motto.”We are the world’s local bank”. Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC’s international network comprises around 9,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
9. Pictet & Cie (7)
The Private Bank Pictet & Cie has focused solely on managing the wealth of private and institutional investors. It does not engage in any form of investment banking and it does not issue any commercial, mortgage or unsecured loans.
10. Deutsche Bank (11)
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is powerful and growing in North America, Asia and key emerging markets.
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How times have changed most of these banks have now been bailed out by thier goverments since the credit crunch. A usefull list all the same.
Sort of like these banks build the outer shell and the central banks fill them them up with cash.