Wealth management will provide the biggest boost to earnings at global banks over the next two years, according to one of the world’s foremost banks analysts – which could be good news for Morgan Stanley, UBS and Credit Suisse.

In a research note published this week, Kian Abouhossain, senior banks analyst at JP Morgan, wrote that wealth management was the "theme for 2013" and "the most attractive and undervalued business relative to other lines, such as retail/corporate banking, investment banking and custody".