Awards for Distinction 2011 – Asia

APB-AFD-BestPrivateBankAsia

UBS Wealth Management

Kathryn Shih

Kathryn Shih
Chief Executive Officer, Asia Pacific
UBS Wealth Management

With close to US$11 trillion of wealth growing at the fastest pace of any region in the world, the private banking industry in Asia is a battleground for the biggest and the best banks competing fiercely for their share of AUMs. Asian clients have set the bar high and their bankers must fight hard to meet their expectations of service quality and wealth management. No longer in its infancy, the private banking industry in Asia today helps set best practice for the world. Indeed, Asian clients are the globe’s most coveted group of high net-worth individuals.

This rapid growth has also forced bankers in Asia to have an extremely steep learning curve as the institutions they represent fight for differentiation and dominance in what some fear may become a commoditised industry. A few banks are focussed on excellence – in their processes, in their service offering, in their client experience. These exceptional banks were all in the running for the Asian Private Banker Awards for Distinction – Best Private Bank in Asia, but there was one eventual deserved winner: UBS Wealth Management.

One of the leading wealth managers globally, UBS Wealth Management was always to be a close contender for the award with CHF2.1 trillion in assets under management. Of UBS’s 65,000-strong global team, 10% are in Asia where the bank has had a presence since 1964. According to clients and peers alike UBS Wealth Management exemplifies the highest standards of private banking in the industry, from training to client experience, from product diversity to its deep understanding of Asia culture.

“It is an honour to receive this prestigious award,” says Kathryn Shih, CEO Wealth Management Asia Pacific at UBS. “I believe it is a reflection of both the strength of our business in the region as well as of our commitment to help our clients. While I have no doubt that the year ahead will be challenging, we will continue to endeavour to provide holistic advice to our increasingly sophisticated clients. After all, our future success continues to depend on the strength and quality of the relationships we have with them.”