The assets of wealthy individuals rebounded strongly in 2009, but profitability at the private banks and other institutions that service them remained depressed because of underperformance and a failure to regain their clients' trust.

According to the annual global wealth report from the Boston Consulting Group, global wealth assets under management at these institutions climbed 11% last year, finishing at $111.5 trillion (€92 trillion). This is almost identical to the record high amount from the end of 2007, recovering what was lost after a 10% decline in 2008.