Arta Finance, a digital wealth platform backed by former Google and Mastercard executives, has appointed the ex group CEO of UBS as an external advisor as it seeks to join Singapore’s wealth boom. Ralph Hamers has joined Arta as an external senior advisor, providing strategic guidance as the company grows internationally, according to a company statement. Hamers previously served as […]

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UBS has re-hired Sergio Ermotti as Group CEO to help facilitate the integration of Credit Suisse following the shock announcement of the CHF3 billion (US$3.24 billion) Swiss government-brokered takeover. UBS said on Wednesday that its board of directors had appointed Ermotti to replace Ralph Hamers as of 5 April, following its Annual General Meeting. Hamers’ decision to step down has […]

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The takeover of troubled Credit Suisse by historic rival UBS has sent shockwaves through the financial industry and raised a multitude of important questions – chief among them being: “What happens next?” Below, Asian Private Banker rounds up five key implications of the transaction that has shaken the world of private banking. What’s behind the deal? While Credit Suisse had […]

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A stunning merger between UBS and crisis-stricken Swiss rival Credit Suisse has shaken global markets and raised serious questions over the long-term future of their operations in Asia-Pacific. The numbers associated with the Swiss government-brokered transaction, that was announced late on Sunday amid fears of a broader meltdown of the global financial system, are eye-popping. The deal value of CHF3 […]

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UBS will merge with historic rival Credit Suisse in a deal valued at CHF3 billion (US$3.24 billion) following intervention by Swiss authorities, creating a global private banking and asset management player with US$5 trillion in assets. In a late night statement on Sunday Hong Kong time, Credit Suisse said it had entered into a merger agreement with UBS after the […]

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UBS Global Wealth Management (UBS GWM) attracted US$60 billion in net new fee-generating assets (NNFGA) globally for 2022 and US$23 billion in 4Q2022, including a strong performance in Asia-Pacific, as the Swiss private bank defied market volatility and weak investor sentiment. On a regional basis, UBS GWM soaked up US$14 billion of NNGFA for the year in Asia Pacific, according […]

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UBS Global Wealth Management (GWM) sees a silver lining in 3Q22 earnings in Asia because of the level of positive inflows to the bank. The APAC region underperformed compared to EMEA and the Americas, with profits before tax (PBT) dropping 19% YoY to US$237 million. Invested assets stood at US$412 billion in Asia in 3Q22, with net new fee generating […]

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UBS Global Wealth Management’s (UBS GWM) profit before tax fell 11% YoY to US$1.16 billion in 2Q22 as the Swiss bank was hit by market volatility and poor investment sentiment. However, inflows of net new fees-generating assets (NNGFA) in Asia-Pacific during the quarter helped to offset other regions. Citing one of the worst periods for global markets in recent history, […]

The post UBS GWM’s 2Q22 profit before tax falls amid “uncertain times” appeared first on Asian Private Banker.

UBS has appointed a sole president of its Global Wealth Management (GWM) business as part of broader changes to its executive board. The promotion of Iqbal Khan, announced by the Swiss bank on Tuesday, coincides with a decision by Tom Naratil to step down from his roles as co-president GWM and president of UBS Americas, effective 3 October. The pair […]

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The disappointing 1Q22 earnings posted by many banks were a reflection of both poor investment sentiment due to geopolitical events and the challenge of beating earnings in 1Q21 — when banks booked record performances on the back of strong trading and robust growth in wealth management. A closer look at the reasons for the poor 1Q22 performances and at what […]

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Announcing their 1Q22 results on Tuesday, HSBC and UBS revealed the impact of the pandemic on their wealth management businesses in Asia. Not a good quarter for APAC WM business: UBS For UBS Global Wealth Management (GWM), its 1Q22 profit before tax (PBT) posted healthy gains in Switzerland (+30% YoY) and EMEA (+21% YoY), but fell 38% YoY in APAC […]

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UBS Global Wealth Management (UBS GWM) has posted a record 3Q21 pre-tax profit in Asia Pacific, despite the Swiss bank suffering net outflows of US$2.2 billion in new loans and US$1.8 billion in new fee-generating assets in the region. UBS declared on Tuesday that its 3Q21 earnings, which beat analysts’ estimates, featured its “best pre-tax profits on record” for the […]

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UBS Global Wealth Management’s APAC business recorded its highest ever second quarter profit, while bringing in US$3.8 billion of net new fee-generating assets (NNFGA) in 2Q21. Over the past 12 months, NNFGA in APAC grew at 20% — the fastest of all regions. A confluence of factors — US$3.8 billion of NNFGA inflow, positive market performance, and foreign currency effects […]

The post UBS GWM APAC hits highest Q2 profit, raking in US$3.8B in net new fee-generating assets appeared first on Asian Private Banker.

Record profits at the wealth franchise of UBS Group AG in Asia Pacific helped the Swiss financial major absorb losses from the Archegos blowout that ensnared fierce rival Credit Suisse Group AG. Group-wide net profit for 1Q21 rose 14% YoY to US$1.8 billion, on the back of a 33% increase in group-wide invested assets to US$4.2 trillion across global wealth […]

The post UBS dodges Archegos bullet thanks to trading by wealthy APAC clients appeared first on Asian Private Banker.

UBS’s group-wide sustainability drive reached a new crescendo in 2020, with invested assets in what the bank calls “Core Sustainable Investments” rising by 62% to US$793 billion. In all, Core SI products and mandates accounted for 19% of total invested assets at the bank — up from 13.5% at the end of 2019. The increase was helped along by a […]

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UBS Global Wealth Management (GWM) in 2020 grew its APAC client assets to US$560 billion, a YoY increase of 24%. The Swiss giant’s APAC wealth management business saw net new money inflows of US$13.2 billion in 4Q20, partly driven by one large single inflow of US$4 billion. APAC alone took up nearly two thirds of the total of US$21 billion […]

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UBS on Friday named a new head of personal & corporate banking and president UBS Switzerland, as Axel Lehmann has decided to step down at the end of January 2021 from his current roles as president personal & corporate banking and president UBS Switzerland. This marks the first major appointment since Ralph Hamers assumed the role of group CEO at […]

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After almost a decade at the helm of UBS, Sergio Ermotti is stepping down, paving the way for CEO designate Ralph Hamers to take over as UBS group CEO and president of the executive board on 1 November 2020. Hamers is currently CEO of the Dutch retail bank ING Group. He joined ING in 1991 and became group CEO in […]

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