China Merchants poised to enter private bank top 10

The private banking arm of mainland-headquartered China Merchants Bank (CMB) remains on course to become one of the world's biggest private banks by assets under management. That is the upshot of a survey published on May 20 that reinforces the importance of Asia as a source growth for the industry and dovetails with the bank's reported aim to become the largest private bank in Asia. In the latest Scorpio Partnership ranking of private banks by global assets under management (AU…