BEST PRIVATE BANK – NEXT GENERATION PROGRAMME
Over the next two decades, Asia’s billionaires will pass down an estimated US$2.4 trillion in wealth to a younger generation according to research by UBS and PwC. This fact alone raises the imperative for private banks in the region to maintain close and relevant ties to the next generation of clients and secure future assets, given that relationships traditionally dissolve across generations.
Little surprise, then, that Asia’s private banks are devoting greater resources towards cultivating sticky relationships with the next generation, with many establishing permanent platforms and programmes aimed at equipping tomorrow’s clients with the requisite skills to be future leaders.
UBS is unrivalled when it comes to its next generational offering, leveraging a global platform to deliver a holistic next-gen offering that is attentive to regional nuances. Indeed, the strength of UBS’s next-gen proposition lies in its depth, breadth and relevance. Rather than approaching the next generation in an ad hoc manner, UBS targets individuals in the 18-plus age-range, with a suite of programmes at the global and APAC levels that focus on future leadership, familial responsibilities and social impact across a variety of formats, including multi-day forums, intimate roundtables and bespoke ‘red carpet’ engagements for individual families.
In 2017 alone, UBS established a dedicated North Asia chapter for its UBS Second Generation Organisation for a target client group of 25 to 35 and expanded its UBS 20/20 Social Impact Leaders Group where fledging leaders can delve deeper into their passion for philanthropy and social investments. And to augment UBS’s physical networking platforms, the bank launched a Digital Content Lounge for millennial clients to stay engaged and receive online content on alternative legacy topics and current trends, ranging from disruptive technology to leadership and impact investing.
Overall, more than 150 next-gen successors from the APAC region participated in the bank’s programmes in 2017, which were guided by key global influencers across the academic, business and social spheres as well as senior management of the bank.
Clearly, UBS has struck the right balance between programme structure and content in Asia, receiving a resounding endorsement from next-gen participants in the Asia Pacific region in 2017 and enjoying a healthy returnee rate.
“For over a decade we have invested in next generation programs and take a lot of pride in the consistently positive feedback that we have received from participants. We are delighted to receive this recognition from industry experts for our efforts. Our aim has been, and will continue to be, to partner with, challenge and guide the next generation around topics such as business, investments, legacy and passion. Going forward, we will continue to deepen our community-building efforts and expand our digital offering to our clients of the future.”