Complex sentence: According to Scorpio Partnership's Annual Private Banking Benchmark for 2006, the largest private banking division is at UBS AG, followed by Citigroup and Merrill Lynch, each of these institutions gathering more than $1 trillion in assets under management for private clients.
Split into simpler sentences: According to Scorpio Partnership's Annual Private Banking Benchmark for 2006, the largest private banking division is at UBS AG, followed by Citigroup and Merrill Lynch. Each of these institutions gathered more than $1 trillion in assets under management for private clients.