Awards for Distinction 2013 – Taiwan International

AFD2013_Best Private Bank - Taiwan

UBS Wealth Management

Dennis Chen

Dennis Chen
UBS Wealth Management, Taiwan

The entrepreneurial spirit which has fuelled Taiwan’s economic ascension is well and truly alive. Due in large part to the continued strength of the semiconductor industry, the fast-growing Taiwanese economy has created a sizeable pool of high net worth (HNW) individuals, estimated at 95,000 as of the end of 2013.Well-positioned to take advantage of the resultant demand for corporate and private banking, is UBS Wealth Management. In size alone, UBS Wealth Management’s Taiwan business eclipses many of its competitors. What’s more, its assets under management have seen an annual compounded growth rate of 25% since 2006. It currently manages US$11 billion.

In addition to its size, a significant driver of UBS’ success in the region is its ratio of relationship managers per client. Currently UBS Wealth Management has 130 private bankers across branches in Taipei, Kaohsiung and Taichung, servicing 20-25 clients each, a ratio that many would aspire to. The experience and aptitude of the frontline, many of whom are well-versed in investment banking, have been key to UBS Wealth Management’s success in Taiwan.

Although an experienced frontline is crucial, discretionary portfolio management is the ultimate confirmation of trust between a bank and a client. The fact that UBS’ advisory arm accounted for a third of the Taiwan business’ revenue in 2013 speaks volumes for the bank’s success as HNW clients responded to the quality of advice and demonstrably superior performance of the bank by investing assets in discretionary mandates and other managed products.
Its impressive scale, diverse revenue streams and enviable client-to-banker ratio clearly justify UBS Wealth Management’s market-leading status. Recognising all of the above, Asian Private Banker deems UBS Wealth Management the winner of the Best Private Bank – Taiwan award for 2013.