Awards for Distinction 2012 – Hong Kong


afd2012

UBS Wealth Management

Jean-Claude Humair

Jean-Claude Humair
Managing Director and Regional Market Manager, Hong Kong
UBS Wealth Management

The lure of Hong Kong’s ultra high net worth segment has seen the city’s wealth management landscape become one of the most populated – and contested – in the region. Private banks looking to succeed in this space not only need to maintain a comprehensive and dedicated presence, but also demonstrate a solid understanding of the specificities of conducting business in one of the world’s key financial hubs.

This year, Asian Private Banker recognises UBS Wealth Management (WM) as the preeminent private bank in Hong Kong – the Swiss giant proving that sheer size does not preclude the bank from effectively localising its offering for the Hong Kong market. In fact, UBS WM, having established a presence in Hong Kong in 1964, today considers the city a “home market”; and with 700 dedicated staff on the ground and a market share of nearly 15%, Asian Private Banker concurs.

UBS WM’s localised innovation is clearly evidenced by the fact that it was one of the first private banks to launch a Dim Sum Bond Fund for private clients, resulting in one of Asia’s biggest investment fund initial public offerings to date. The private bank also maintains a close working relationship with UBS’ investment banking arm, cross-fertilising ideas and bringing institutional-level research and investment opportunities to its sophisticated high net worth clients.

On the back of such initiatives, UBS WM has grown its assets under management in the Asia Pacific region to an extraordinary CHF190 billion (US$205.7 billion) as of third quarter of 2012. Hong Kong contributes significantly not just to the APAC AUM but also to the net new money to the private bank’s Asia Pacific business, making 2012 its best year for net new money since the 2008 financial crisis.

Jean-Claude Humair, Managing Director and Regional Market Manager for Hong Kong at UBS Wealth Management, rightly cites the private bank’s nimbleness as a fundamental element of its success.

“Our clients are sophisticated and they value us for bespoke solutions that we are able to offer,” he remarks. That Asian Private Banker recognises UBS Wealth Management as the Asian Private Banker Best Private Bank – Hong Kong for 2012 certainly confirms his conviction.