Best Private Bank Family Office Services
UBS
Best Private Bank – Family Office Services
LH Koh
co-head global family office APAC, UBS Global Wealth Management
“We are delighted to receive the award again! Family investors are increasingly seeking professional advice for innovative investment ideas, integrated banking solutions and succession planning advice, especially in the turbulent post COVID-19 environment. With our fully global set up, family offices have access to solutions and services seamlessly across all regions. Besides, we take a highly personalised approach through our understanding of the individual families, their specific needs and motivations. – LH Koh, co-head Global Family Office APAC, UBS Global Wealth Management”
Anurag Mahesh
co-head global family office APAC, UBS Global Wealth Management
“As Asian Wealth grows, driven by relatively higher economic growth rates, more and more families are looking to set up family offices to professionally manage their wealth, create a succession plan and groom the business leaders of tomorrow. Thank you for the recognition for the fourth time! We will continue to collaborate with our clients to address their wealth preservation and wealth creation needs in a holistic and bespoke fashion. – Anurag Mahesh, co-head Global Family Office APAC, UBS Global Wealth Management”
Winners rationale
Established globally in 2011 through a dedicated global wealth management and investment banking joint venture, the UBS Global Family Office (GFO) business has gone from strength to strength. In 2020, it increased its share of wallet on the back of integrated ‘One Bank’ solutions, as UHNW and HNW individuals and families were growing in sophistication, and more were setting up family offices in the region.
The bank aligned its capabilities across wealth management, institutional asset management and investment banking, to provide the GFO clients access to the best of UBS’s institutional capabilities in terms of expertise, connectivity and global insights paired to local knowledge. UBS enhanced its financing solutions to GFO clients, and increased net new loans to US$26 billion in 2020, exceeding its ambition of US$20 billion.
In 2020, the ‘One Bank’ approach enabled the bank to have a further global banking and global wealth management collaboration, delivering a cohesive set of solutions to GFO clients despite the challenges wrought by COVID-19. For example, UBS guided issuers through the pandemic by advising them to capture the opportune market window and realise optimal equity financing.
Since 2020, the bank has been ranked #1 among international banks in offshore IPOs by Chinese issuers, and GWM distribution as a differentiating factor contributed significantly to the past IPOs.
The more family members are aligned in terms of their common purpose, values and vision, the more impact they can have with their wealth. The bank has been developing bespoke family strategies for its GFO clients, supporting them with the implementation of necessary tools and family advisory and philanthropy services.
Number speaks for themselves. As one of the most successful segments since inception, GFO had seen a 28% compounded annual growth from 2011 to 1Q19 globally, and the YoY growth for GFO income stood at 29% as of 3Q20. Asia, as the fastest growing franchise, recorded an impressive operating income growth of over 50% YoY in its GFO business as of 3Q20.
UBS is Asian Private Banker’s Best Private Bank – Family Office Services for 2020.
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