UBS Wealth Management
Although each private bank in the region defines ultra-high net worth (UHNW) individuals differently – ranging from clients with US$10 million or more in liquid assets to clients with US$100 million or more – all agree that these clients are the industry’s most coveted catch. The ultimate testing ground for a bank’s commitment to excellence in service, these discerning individuals are savvy investors, early adopters of technology and tend to be at the cutting edge of information and best practices. To secure and maintain the trust and confidence of an UHNW client is the ultimate validation of the quality of a bank’s service.One bank has distinguished itself, not just by the exceptionally high bar its UHNW bankers have set for client confidentiality, customisation and the pace of innovation, but by the remarkable growth in its share of Asian UHNW assets. UBS Wealth Management, the deserved winner of this year’s award, boasts 75% coverage of the billionaire population in Asia Pacific at a group level and CHF134 billion (US$149 billion) in invested assets from UHNW clients in the region.
That it has consistently been ranked as one of the largest global managers of UHNW wealth validates UBS’ commitment to offering its billionaire clients a truly integrated platform with best-in-class investment banking and asset management services. Indeed, the investment bank‘s market-leading position in trading, research and corporate finance has become an inimitable differentiator with Asia’s tactical investors. The bank also boasts the largest dedicated squad for UHNW clients amongst its Asian peers with 175 client advisors divided into 40 specialised teams.
UBS has demonstrated how a structured integrated bank delivery process can excel – through regular client review meetings between investment banking and wealth management teams, continuous access to a senior investment banker for the client as well as quick a turn-around time for financing requests. Indeed, a combination of these factors led one client, who opened an account with US$80 million in April 2011 and a US$100 million credit limit, to augment the relationship to as much as US$1.6 billion in January 2013. In the interim, the bank executed two total return swaps to provide the client with synthetic exposure to certain stocks, advised on a corporate restructuring that generated a US$1.5 billion liquidity event, and offered several other structured credit solutions.
Amy Lo, Head of Ultra High Net Worth, Asia Pacific at UBS Wealth Management, asserts, “Although the competition is very fierce we do think that our dedicated front-to-back UHNW set-up, combined with the size and strength of UBS group, sets us apart from the other banks.” Asian Private Banker agrees.