Swiss bank UBS has been crowned the biggest wealth manager in the world with $2,403 billion of assets under management, followed by Bank of America Merrill Lynch ($1,080 billion) and Morgan Stanley ($1,045 billion).

China Merchants Bank entered the top 10 in 2017 and was the first Chinese bank ever to do so, according to research by GlobalData and Private Banker International.

According to the report, the private wealth management industry had a strong year last year as the number of high net-worth individuals and affluent investors continued to grow.

Let's take a look at the top 10 biggest wealth managers in the world.

No 10 China Merchants Bank - $292.8 billion