UBS Wealth Management
Minting millionaires faster than any other region in the world, Asia continues to be at the forefront of global wealth creation and a battleground for private banks as they compete for a share of Asian assets; and whilst all banks in the region are keeping a close eye on rising cost/income ratios and decreasing client activity, a handful of them are also spending considerable resources, infusing value into every aspect of their client relationships. A few banks, in particular, are focussed on excellence – in their people, processes, service offering, and, ultimately, client experience – emerging as strong contenders for the Asian Private Banker Best Private Bank – Asia award for 2012.
Trumping its peers, UBS Wealth Management (WM) is the deserved winner of this award for the second consecutive year, distinguishing itself on a number of fronts.
Although assets under management is by no means the sole criterion Asian Private Banker uses for adjudging the winner of this award, UBS’ CHF1.6 trillion (US$1.73 trillion) in private client assets, of which CHF190 billion (US$205.7 billion) are in Asia, places it in the highest echelons of private banking. The bank’s stellar heritage – it has maintained a presence in Asia since 1964 – is only one of the many manifestations of its commitment to the region. Two of its three global booking centres are in Asia (Hong Kong and Singapore) and it has 25 centres in 14 territories across the region’s multiple time zones, including onshore wealth management centres in China, Taiwan, Hong Kong, Singapore, Australia, Japan, and India.
While many banks in Asia claim “people” to be their “biggest asset”, Asian Private Banker finds UBS WM’s commitment to its unparalleled quality and consistency a distinguishing factor. Indeed, as the only bank in the region to have a dedicated training campus, UBS bankers participate in a diploma programme as part of their professional development.
And with a private banking platform that even competitors acknowledge as best-in-class, UBS Wealth Management’s clients have emerged as the biggest beneficiaries of this good fortune.
“Ultimately, our success and competitive strength lies in the quality of the service we deliver to our clients,” affirms Kathryn Shih, CEO Wealth Management APAC. “I am proud to say that we have the best qualified and trained people in the market.”