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UBS, Morgan Stanley Lead Wealth Managers With $2 Trillion

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UBS Group AG and Morgan Stanley increased the assets they manage for the world’s wealthiest people to more than $2 trillion for the first time, according to a study.

Assets under management at Zurich-based UBS rose 3.5 percent to $2.04 trillion last year, the most globally, according to an annual study by Scorpio Partnership, a London-based consulting firm. Morgan Stanley ranked second with $2.03 trillion as assets grew 6.1 percent.