Awards for Excellence 2018
The momentum in UBS’s Apac wealth management business is such that senior staff envisage a day when assets in Asia overtake those from any other part of the world. It is easy to see why. In 2017 the bank becamethe first wealth manager to cross SFr300 billion ($305 billion) in assets in Asia and by the first quarter of 2018 was already at SFr379 billion. The bank may well have crossed SFr400 billion by the time you read this.
Achieving 28% year-on-year growth in invested assets is no mean feat in any circumstances; doing it off such a high, market-leading base is extraordinary. Yes, markets helped, but net new money for the year was SFr28.4 billion, up 37% year on year.
Although UBS runs the business out of Singapore, Greater China is where the growth is and the opportunity for international banks like UBS, as China’s domestic private banking industry deals with increased scrutiny of shadow banking products.
UBS has a few interesting local institutions here.