What does restructuring in a private bank really mean? It is often presented as a sign of renewal. A way to become leaner, sharper and better prepared for the next phase of growth. Restructuring can help banks improve efficiency, refocus strategy and direct resources towards new opportunities. But in private banking, restructuring is never just about changing reporting lines. A […]

The post Bottom Line: New structures, new ambitions? Three private banks to watch!  appeared first on Asian Private Banker.

While hiring remained muted after an intensified talent war in the Greater China market in May, two major private banks restructured their leadership benches in June to position themselves for growth in Asia. Movers in June Elsewhere, RBC Wealth Management continued its hiring spree with the appointment of former China Construction Bank (Asia) deputy general manager and deputy head of […]

The post Movers & Shakers: Hiring cools as UBS, UOB reshape leadership benches appeared first on Asian Private Banker.

RBC Wealth Management (RBC WM) Asia has appointed a financial intermediaries expert from UBS, continuing a string of hires in the region. Based in Singapore, Thomas Jost has joined RBC WM Asia as head of the financial intermediaries desk, the bank said on Tuesday. Jost has over two decades of industry experience in financial intermediary services. He was most recently […]

The post RBC WM hires ex-UBS banker to lead financial intermediaries desk appeared first on Asian Private Banker.

Private banking relationship managers (RMs) in Asia are overseeing larger books than at any point on record, reflecting a structural shift in how wealth management businesses are being run. In 2025, average assets under management (AUM) per RM reached a record US$473 million, with books growing by an average of US$62 million, or 15% – the fastest rate in five […]

The post Average private banking book size grew by US$62m in 2025 appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has appointed a new Australian market team head from local investment firm JBWere to strengthen its regional offering. Effective 13 July 2026, Damian Robinson will join UBS GWM Australia as a market team head. Robinson will be based in Sydney and report to Andrew Bird, head of GWM Australia, according to an internal memo […]

The post UBS GWM expands Australia bench with market team head appeared first on Asian Private Banker.

The 2026 FIFA World Cup kicks off on Thursday, and while 48 teams across the US, Canada and Mexico compete for football’s biggest prize, investors are focused on a different scoreboard: the billions of dollars in economic activity expected to be generated by the largest tournament in history. This year’s competition will feature 104 matches, up from 64 previously, and […]

The post World Cup 2026: DBS, UBS, Deutsche Bank map the money play appeared first on Asian Private Banker.

Today’s US$5 million client could be tomorrow’s US$50 million client, and that simple idea is driving a strategic shift at UBS. While ultra high net worth (UHNW) clients continue to anchor asset growth, UBS sees its next phase of expansion in better capturing and scaling engagement within the broader high net worth (HNW) universe. At UBS, HNW clients are defined […]

The post UBS targets Asia HNW growth with Adeline Chien at the helm appeared first on Asian Private Banker.

BNP Paribas Wealth Management (BNP Paribas WM) has hired from UBS to strengthen its advisory capabilities in Taiwan, Asian Private Banker has learnt. Based in Taipei, Hiko Lee has been appointed as head of investment counselling for Taiwan, effective 8 June 2026, according to an internal memo seen by APB. Lee will be responsible for developing and implementing the bank’s […]

The post BNP Paribas WM hires UBS talent for Taiwan push appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) has appointed a new head of advisory and sales in Australia to strengthen its footprint. Effective 1 July, Wayne Gordon has been named GWM Australia head of advisory and sales, UBS said in a statement on Friday. In his new role, Gordon will integrate the bank’s Australian business into its broader regional and global platform […]

The post UBS GWM strengthens Australia advisory and sales leadership appeared first on Asian Private Banker.

UBS reported a strong first quarter for its global wealth management (GWM) division, with Asia Pacific profit before tax rising 40% year-on-year despite a slight dip in assets under management (AUM). “In the first quarter we continued helping clients navigate a volatile and unpredictable geopolitical and market environment, leveraging the strength and breadth of our global, diversified franchise,” commented Sergio […]

The post UBS GWM 1Q26: Asia profit up 40% despite slight dip in AUM appeared first on Asian Private Banker.

Having drafted UBS’s first private banking e-business strategy in 2001, Wiwi Gutmannsbauer has witnessed the development of a 25-year strategy that continues to drive the bank’s digital transformation efforts today. “Going to a bank should not be like going to a dentist. It should be an interaction that is convenient, fast, and tailored to what clients really need,” said the […]

The post Agentification and Lego blocks? Inside UBS’s digital transformation appeared first on Asian Private Banker.

Asia’s private banking AUM has crossed the US$4 trillion mark, according to Asian Private Banker‘s 2025 League Tables. With J.P. Morgan Private Bank entering the top three for the first time and Nomura International Wealth Management (IWM) making its debut in the tables, the 2025 rankings saw widespread movements. J.P. Morgan Private Bank led this growth with a 41% increase […]

The post Asia 2025 AUM League Tables: Assets cross US$4tn, JPM enters top three, Nomura debuts appeared first on Asian Private Banker.

UBS’s head of women’s wealth says the industry’s traditional playbook wasn’t designed with female clients in mind. She is retraining advisors across the bank to change that. Emma Wheeler spends 80% of her time not advising clients, but retraining advisors.  “We are a relationship business operating in a relationship industry,” she told Asian Private Banker. “That requires a behaviour change from […]

The post Why UBS’s head of women’s wealth spends 80% of her time retraining advisors appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) is doubling down on a high-conviction bet on Chinese technology in 2026, forecasting a 20% earnings surge even as Beijing prepares to anchor national growth at its lowest level in over three decades, according to Tan Min Lan, head of the chief Investment office, APAC.   In a late-February email interview with Asian Private Banker, […]

The post UBS’s Tan Min Lan bets on 20% China tech rally amid Beijing slowdown appeared first on Asian Private Banker.

Asian Private Banker is proud to unveil our 2026 COO Focus, an annual audit of how the region’s largest wealth managers are recalibrating operations following a year of volatile market shifts and rapid technological adoption. Senior executives and thought leaders contributed to this year’s edition, including: Wiwi Gutmannsbauer, UBS Global Wealth Management; Benoit Douchin, HSBC Global Private Banking; Patrick Dreyfuss, […]

The post COO Focus: How Asia’s top private banks are rewiring the middle office appeared first on Asian Private Banker.

China’s art market stabilised in 2025, showing resilience even as a protracted real estate downturn and cooling consumer confidence weighed on the world’s second-largest economy, according to the Art Basel and UBS Global Art Market Report 2026 released on Thursday.  While a recovery in domestic-led mainland auctions offset a contraction in the more internationally exposed Hong Kong hub, the region’s […]

The post UBS: China retains third spot in art market as US dominance grows appeared first on Asian Private Banker.

Asian private banking clients have significantly increased their exposure to alternatives over the past year, yet many still remain highly concentrated in US and tech exposure, warned industry leaders at the Asian Private Banker Alternative Investments Summit 2026 Singapore. The panel discussion, Macro outlook of alternative investments: Innovations, potentials, new insights, delved into diversification within alts and how far Asia […]

The post AIS 2026 SG: Private banks flag concentration risk from heavy US, tech exposure appeared first on Asian Private Banker.

UBS has hired a new head for global wealth management (GWM) Australia, Asian Private Banker can reveal. Effective 27 April 2026, Andrew Bird will join the bank as head of GWM Australia, according to an internal memo seen by APB. Based in Sydney, Bird will report to Jin Yee Young, co-head of GWM APAC. He will also report locally to […]

The post UBS names new global wealth management head for Australia appeared first on Asian Private Banker.

With performance dispersion widening in an increasingly uncertain world, very few alternative managers are now managing to meet the strict selection criteria of Asia’s private banks, according to private banking alts leaders at the Asian Private Banker’s Alternative Investments Summit 2026 in Hong Kong. The panel discussion, Macro outlook of alternative investments: Innovations, potentials, new insights, dissected how private banks […]

The post AIS 2026 HK: Private banks raise the bar for alts managers appeared first on Asian Private Banker.

Galloping into the Year of the Fire Horse, the race continues among private banks and asset managers to see who can distribute the most spectacular red packets to clients. More than just traditional gifts for family and friends, these laisee, or hongbao, have morphed into cult collectables, often trading on secondary markets for prices that rival the currency inside. Horses […]

The post Vote now: Who has the best red packets in Year of the Horse? appeared first on Asian Private Banker.

UBS has reported strong momentum in its Global Wealth Management (GWM) unit, with double-digit top- and bottom-line growth in APAC, driven by a 33% rise in transaction-based income. “The strength of our global, diversified franchise powered our excellent full-year performance as we helped clients navigate an unpredictable market environment. We made great progress on one of the most complex integrations […]

The post UBS GWM eyes US$5.5tn prize; APAC profit up 24% as advisor headcount dips appeared first on Asian Private Banker.

In 2025, North Asia’s private banking sector saw a golden moment amid rising market strength and sanguine sentiment, with Hong Kong supporting wealth creation through its capital markets. As we head into 2026, APB highlights five private banks to watch in Hong Kong. UBS GWM back to growth mode post CS integration Two years after the announcement of its shotgun […]

The post Five private banks to watch in Hong Kong in 2026 appeared first on Asian Private Banker.

UBS Global Wealth Management APAC (UBS GWM APAC) is doubling down on its push to capture the surging wealth of globally mobile Australian clients, hiring a senior banker from Citi Private Bank to strengthen its Australia International team in Singapore. Carl Ashton will join UBS GWM APAC as a client adviser within the offshore Australia team, the bank announced on […]

The post UBS strengthens offshore Australia team with Citi hire appeared first on Asian Private Banker.

A senior Singapore-based investment executive has decided to depart HSBC Private Bank and join UBS, Asian Private Banker has learnt. James Cheo, chief investment officer for Southeast Asia and India at HSBC Private Bank and Premier Wealth, has resigned, people familiar with the matter told APB. HSBC Private Bank confirmed Cheo’s resignation to APB, adding that his tenure will conclude […]

The post James Cheo is leaving HSBC Private Bank to join UBS appeared first on Asian Private Banker.

Asian Private Banker is delighted to present Final Word 2025, our year-in-review feature featuring regional heads from wealth management players across APAC. Click here to read Final Word 2025 In this exclusive feature, top executives reflected on what kept them up at night in 2025, covering everything from digital transformation to regulations, and business strategy to investment performance. Below are some […]

The post Final Word: Private banking leaders reflect on strong a 2025, reveal strategies for 2026 appeared first on Asian Private Banker.

UBS has extended its wealth technology capabilities to one of Taiwan’s leading securities firms, marking the Swiss bank’s latest move to capture rising opportunities in the market amid supportive regulatory reforms. UBS has partnered with KGI Securities to launch 凱富RichLife, a financial planning platform powered by UBS Partner, its wealth management technology, the firm said on Wednesday. 凱富RichLife enables KGI’s […]

The post UBS brings technology know-how to Taiwan with KGI tie-up appeared first on Asian Private Banker.

UBS intends to hire more talent in Taiwan, seizing upon regulatory loosening and a semiconductor-fueled tech boom, the Swiss banking giant recently told Asian Private Banker. “We are now taking advantage of all the relaxation that has happened,” Henry Su, Taiwan location head, UBS Global Wealth Management, told APB in a recent interview. Su is referring to the launch of […]

The post UBS targets headcount expansion in Taiwan as regulations ease appeared first on Asian Private Banker.

Billionaires are expecting to live longer than ever before, a UBS report has found, signalling that banks will have to adapt to meet the longer-term wealth-planning and investment goals of the world’s wealthiest people. The combined wealth of global billionaires reached US$15.8 trillion, a 13% increase compared to 12 months ago, according to the UBS Billionaire Ambitions Report 2025, which […]

The post Billionaires expect longer lives and four trends ahead appeared first on Asian Private Banker.

Asian Private Banker is excited to launch the Power List Singapore to celebrate the city’s most influential private bankers shaping one of Asia’s fastest-growing wealth hubs. Not just managing wealth, these leaders are redefining their craft by combining expertise with empathy, innovation, and a commitment to lasting relationships. Click here to see the full Power List Singapore. The Power List […]

The post APB Power List: Meet the most influential private bankers in Singapore appeared first on Asian Private Banker.

Banks hailing from the UK and continental Europe delivered robust top- and bottom-line growth in the third quarter of 2025, mirroring the strong earnings reported by their American counterparts. UBS Global Wealth Management (GWM), Deutsche Bank Private Bank, BNP Paribas Wealth Management (BNP Paribas WM), HSBC, and Standard Chartered all posted double-digit revenue or profit growth, supported by higher client […]

The post 3Q25: European private banks keep pace with US rivals appeared first on Asian Private Banker.

Well-known for its integration with historic rival Credit Suisse, UBS is going for another round of integration—this time, for its mobile banking applications. UBS has integrated two key mobile platforms as part of its ongoing digital transformation efforts, merging UBS Mobile Banking and Circle One by UBS into a single app that combines market insights, expert access, and trading capabilities, […]

The post UBS powers up digital transformation with mobile merge appeared first on Asian Private Banker.

Southeast Asia’s private banks have been experiencing strong inflows and sustained growth momentum, according to private banking leaders at the APB Summit 2025 in Singapore today. The panel discussion, Business highlights: Progress in Singapore’s private wealth business revealed private banking trends in the region, differentiation strategies, and future industry challenges identified by private banking CEOs. International corridors supporting flows At […]

The post APB Summit 2025: Flows, edge, concerns – UBS, Julius Baer, BOS, DBS share insights appeared first on Asian Private Banker.

UBS has opened a new advisory office in Abu Dhabi, marking the Swiss giant’s second location in the United Arab Emirates (UAE) alongside its existing Dubai operation. The move comes as the Swiss bank seeks to expand its footprint in one of the world’s fastest growing finance and wealth hubs to better serve the growing number of ultra high net […]

The post UBS expands Middle East presence with Abu Dhabi office appeared first on Asian Private Banker.

North Asia’s private wealth business is experiencing unprecedented growth, breaking records across the board in 2025, according to leading private bankers at the Asian Private Banker Summit 2025 in Hong Kong today. The panel discussion, Behind the Rebound: Momentum in North Asia’s Private Wealth Business, highlighted the convergence of massive wealth creation, strategic migration, and rapid technological adoption as the […]

The post APB Summit 2025: UBS, Julius Baer, BNP Paribas ride record North Asia wealth flows appeared first on Asian Private Banker.

This week, UBS showcased its digital initiatives and capabilities through its AI & Transformation Factory in Singapore—the firm’s largest and first of its kind globally. The event was attended by Singapore’s Minister for Digital Development and Information, Josephine Teo. The factory is designed to accelerate digital transformation and foster innovation through cross-functional collaboration. According to UBS, the initiative underscores its […]

The post Inside UBS’s AI transformation playbook appeared first on Asian Private Banker.

Just two years after the announced integration with Credit Suisse, UBS has transformed the shotgun marriage into a wealth management superpower, shifting from outflows to achieving record inflows. Amy Lo reasserted that the Swiss bank has returned to “growth mode,” with Hong Kong showing strong momentum. In 2Q25, UBS Global Wealth Management (UBS GWM) raked in a record high of […]

The post “Back to growth mode”: UBS GWM rides Hong Kong momentum to US$2tn opportunity appeared first on Asian Private Banker.

Wealth management giant UBS Global Wealth Management (UBS GWM) saw double-digit growth in profit before tax (PBT) for both its GWM unit and APAC GWM segment in 2Q25. At the same time, HSBC reported profit dips in both Hong Kong and International Wealth and Premier Banking (IWPB). According to the latest earnings reports, UBS GWM reported a 38% increase in […]

The post UBS GWM’s profits up post-integration, while HSBC stumbles post-reorg appeared first on Asian Private Banker.

With US fiscal and policy ambiguity increasing risk premiums across financial assets, DBS believes ASEAN to be an “oasis of stability” and a shelter amid the geopolitical turmoil, and expects further inflows into local currency assets. “When you buy local currency ASEAN equities, you also have that tailwind of a stronger local currency that can beat the US dollar,” said […]

The post Will ASEAN currencies shine as the dollar dims? DBS weighs in appeared first on Asian Private Banker.

The S$27.45 million in fines that Singapore’s regulator handed out last week is more than just a headline. It’s a warning. Nine financial institutions, including UBS, Credit Suisse, Julius Baer, Citi, LGT, and UOB, were penalised for lapses tied to the country’s most significant money laundering case. But let’s be honest. Are these fines significant for institutions that generate massive […]

The post Bottom Line: Culture eats compliance for breakfast appeared first on Asian Private Banker.

We launched our India 2024 AUM League Tables this week, and the standout was Standard Chartered. Its AUM jumped 479.4%, overtaking Julius Baer to become the top foreign private bank in India. Back in April, Standard Chartered surprised many by entering Asia’s top five with a 57.2% AUM increase, raising questions about where the growth came from. Now, with India’s […]

The post Bottom Line: StanChart’s India AUM surge. Julius Baer, are you watching? appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has restructured its financial intermediaries (FIM) team in Asia Pacific, including the appointment of new co-heads, as well as a new head of A&S (advisory & sales) FIM APAC, according to an internal memo seen by Asian Private Banker. Philippe Spielhofer and Stefan Berger have been appointed as the new co-heads of FIM APAC, […]

The post UBS GWM rejigs FIM leadership with APAC advisory and sales head appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) has upgraded its outlook on Singapore equities from neutral to attractive, highlighting the market’s role as a defensive safe haven amid ongoing geopolitical uncertainty. Speaking at the UBS Mid-Year Outlook 2025 in Singapore, Tan Min Lan, head of the chief Investment office, APAC, said: “The market offers a defensive safe haven amid ongoing geopolitical uncertainty, […]

The post UBS lifts Singapore stocks to ‘attractive’ outlook appeared first on Asian Private Banker.

While private banking hiring in Asia Pacific slowed in April, several asset managers in the region named new CEOs. There were also some surprise departures in the private banking industry, with Nomura International Wealth Management (IWM)’s head of North Asia, Rudolf Hitsch, leaving the bank after two years in the role. The head of IWM at Nomura, Ravi Raju, will […]

The post Movers & Shakers: Heavyweights exit Nomura IWM and HSBC GPB appeared first on Asian Private Banker.

China has unleashed new monetary measures designed to support its economy amid its trade skirmish with US President Donald Trump, but private banks in Asia are unconvinced it will be enough to add sustained momentum to local markets. Key measures announced by Beijing this week included a policy rate cut of 10 basis points; a re-lending and pledged supplementary lending […]

The post China unleashes new monetary bazooka – but private banks want more appeared first on Asian Private Banker.

Asia’s private banking AUM has surpassed US$3 trillion, according to Asian Private Banker‘s Asia 2024 League Tables, reflecting both the region’s growing wealth and strategic shifts among top players. In one of the most profound moves, Standard Chartered cracked the top five for the first time, showing how fast fortunes can change. The UK-based bank posted an AUM jump of […]

The post Asia 2024 AUM League Tables: AUM hits US$3tn, StanChart enters top five appeared first on Asian Private Banker.

For more than 150 years, UBS (or Bank in Winterthur, as it was once known) has called Switzerland home. But could the world’s pre-eminent wealth manager soon be upping sticks and leaving the Confoederatio Helvetica? Possibly, according to a Bloomberg News report, which claims that the bank is examining potential relocation of its HQ if Swiss regulators persist with demands […]

The post Bottom Line: Ignore the headlines, UBS isn’t going anywhere appeared first on Asian Private Banker.

Asian Private Banker is engaging with private banks to understand how they are shaping their philanthropic offerings and what strategies philanthropic organisations can adopt to ensure sustained funding for long-term causes. How are donor priorities shifting in 2025, and what innovative funding models are emerging to address global challenges? And how are projects adapting to measure and demonstrate real-world impact […]

The post “Remarkable growth”: UBS’s Sheryl Fofaria on sustainable philanthropy appeared first on Asian Private Banker.

Running a successful business is a time and energy-consuming endeavour, leaving little room for managing other affairs. So much so, that four in ten entrepreneurs believe that they are not doing enough to grow their own private wealth. This is according to the survey results of UBS’s Global Entrepreneurs Report 2025, which surveyed 156 of UBS’s entrepreneur clients whose businesses […]

The post Entrepreneurs agree they are not doing enough to grow their own wealth – UBS report appeared first on Asian Private Banker.

Swiss giant UBS Global Wealth Management (UBS GWM) recorded a marked increase in profit for Asia Pacific in 4Q24, while at the same time seeing net new asset (NNA) outflows in the region. UBS GWM’s profit before tax in Asia Pacific for 4Q24 reached US$271 million, increasing US$211 million YoY, and accounting for 31% of GWM’s global total. Total revenues […]

The post UBS GWM sees NNA outflows in APAC as profits increase appeared first on Asian Private Banker.

With the year of the snake approaching, competition between private banks in Asia is hotting up when it comes to who can distribute the most dazzling red packets to clients. These envelopes – known as laisee or hongbao – are traditionally given to family members and friends. However, they can also be highly sought-after collectors’ items and fetch a premium […]

The post Vote now: Who has the best red packets in Year of the Snake? appeared first on Asian Private Banker.

UBS is strengthening its commitment to Asia, a key pillar of its global strategy. With rapid growth, rising sophistication, and technological innovation, Asia is reshaping global power dynamics traditionally led by the US, according to Iqbal Khan. Speaking at the UBS Asia Wealth Forum in Singapore on Tuesday, the co-president of UBS Global Wealth Management and president of UBS Asia […]

The post Asia is the epicentre of wealth growth: UBS’s Iqbal Khan appeared first on Asian Private Banker.

HSBC Global Private Bank (HSBC GPB) has hired a former Credit Suisse Indonesia banker following the appointment of the permanent market head for Singapore, Malaysia, and Indonesia, Asian Private Banker can reveal. Urban Binggeli recently joined the bank as desk head for the Indonesia market, according to people familiar with the matter. In this new role, Binggeli will continue to […]

The post HSBC GPB hires ex-Credit Suisse Indonesia banker appeared first on Asian Private Banker.

The snake is the sixth animal of the Chinese zodiac, known for its intelligence, elegance and mysterious nature. In 2025, the year of the snake will be in the element wood, representing a combination of wisdom, intuition and growth. As we approach the end of 2024, many unknowns lurk on the horizon for asset and wealth managers in Asia in […]

The post Top predictions in the Year of the Wood Snake appeared first on Asian Private Banker.

While private banks are working hard to attract clients and garner AUM, the competition goes beyond financial metrics, transcending into client experience and staff engagement. Previously, APB highlighted a selection of the most impressive private banking offices in the region, showcasing their unique features. With over two thousand votes, APB’s readers crowned UBS Singapore at Penang Road, featuring an extensive […]

The post Revealed: This private bank has the best Singapore office appeared first on Asian Private Banker.

Bringing together two banking giants on the scale of UBS and Credit Suisse is no small feat. With 3,000 applications, 110 petabytes of data, 100,000 servers, and 16 data centres being integrated, Asian Private Banker sat down with UBS’s group chief operations and technology officer to discuss what is said to be the largest banking merger since 2008. Client migrations […]

The post “110 petabytes, 100,000 servers”: The Herculean digital effort to merge UBS and Credit Suisse appeared first on Asian Private Banker.

From fashion and jazz music, to construction booms and new-fangled tech innovations, the so-called ‘Roaring Twenties’ was an era of prosperity and sustained economic growth in the years that followed the First World War. Are we headed for a similar boom under the rebooted US presidency of Donald Trump? That is a question being posed by UBS Global Wealth Management […]

The post Roaring 2020s: Will US economy ‘thrive’ under era of Trump 2.0? appeared first on Asian Private Banker.

Donald Trump is set to become the 47th US president after what looks like a resounding victory over Democrat rival Kamala Harris. Underscoring the powerful red wave that has swept across the US, the Republican party is also poised to win both chambers of Congress. With these crucial main levers of government power under Republican control, private bank and asset […]

The post MAGA! What does resounding Trump win mean for PB portfolios? appeared first on Asian Private Banker.

UBS’s profit before tax (PBT) nearly doubled YoY in Asia in 3Q24, as the Swiss giant continues forging ahead with the Credit Suisse integration. At a group level, the Swiss bank reported a net profit of US$1.4 billion for 3Q24, beating the LSEG poll’s mean forecast of US$667.5 million. PBT increased by US$159 million or 17% YoY, to US$1,085 million, […]

The post UBS records near-double YoY 3Q24 profit in Asia appeared first on Asian Private Banker.

UBS has appointed a senior executive as Asia Pacific head of unified global banking (UGB) under the newly-launched GWM Solutions, Asian Private Banker can reveal. Selina Cheung has recently taken up the role, according to an update on her LinkedIn profile. She reports to Jason Hutchings, global head of UGB. Cheung has worked for UBS for over a decade. Before […]

The post UBS’s GWM Solutions appoints APAC head of unified global banking appeared first on Asian Private Banker.

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 […]

The post Ex UBS CEO joins digital wealth player eyeing Singapore market appeared first on Asian Private Banker.

On Tuesday, China’s authorities unveiled a package of measures to boost market sentiment as Asia’s largest economy continues to struggle with weak domestic demand and a drawn-out property market slump. Used to a cautious Beijing, private bank analysts were surprised with the extent of this latest round of measures. However, they still believe the package falls short of the stimulus […]

The post Private banks: Beijing’s stimulus package more aggressive than expected, but still falls short appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) is seeing strong growth in its financial intermediaries (FIM) business in Asia at a time when several of its peers are pulling back from offering dedicated intermediary services in the region. “There is a strong growth momentum in FIM, and we have seen a consistent double-digit growth in our GFIM (global financial intermediary) APAC […]

The post “FIMs want to partner with UBS”: Markus Haeny on growing intermediary services in Asia appeared first on Asian Private Banker.

With the upcoming US presidential election, geopolitical flashpoints around the globe and a significant rate cut, private banks and asset managers have been emphasising the need to broaden exposure when moving into the final quarter of 2024. “Yet, all this uncertainty should bring opportunities for investors. Staying nimble will be key as economies move towards a lower growth, lower inflation […]

The post Outlook 4Q24: Private banks, asset managers eye Asian opportunities as global economy slows appeared first on Asian Private Banker.

Five months after acquiring Credit Suisse’s wealth management business in Japan, UBS SuMi TRUST Wealth Management (UBS SuMi) has grown the unit rapidly in terms of both its client base and on-the-ground team. “UBS’s Japanese wealth management business has grown steadily since its launch in 2004. Our partnership with Sumitomo Mitsui Trust Bank (SMTB) since 2020 has further enhanced our […]

The post UBS: Even bigger in Japan after Credit Suisse acquisition appeared first on Asian Private Banker.

Renowned ex-UBS economist Tao Dong (陶冬) has joined Chinese hedge fund manager Springs Capital (Hong Kong), Asian Private Banker understands. Tao Dong has joined Springs Capital’s Hong Kong unit as president. He joined on 29 August, according to SFC records. Springs Capital confirmed Tao’s appointment. His license with the SFC suggests the heavyweight economist will be advising on securities, asset […]

The post Renowned ex-UBS economist joins Springs Capital appeared first on Asian Private Banker.

With the odds of Kamala Harris winning the US presidency rising and interest rate cuts likely imminent, UBS believes investors should brace for potential volatility by reviewing portfolio hedges and considering diversified fixed income and equity over cash – but most importantly staying disciplined. Markets are waiting for Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Economic Symposium […]

The post UBS: Three ways to play rising odds of President Harris and rate cuts appeared first on Asian Private Banker.

UBS has completed the merger with Credit Suisse, marking a significant milestone in integrating the two Swiss banks. However, pressing challenges remain surrounding the retention of clients who had relationships with both banks and have now increased their exposure to one organisation, as well as the retention of top-tier talent at Asia Pacific’s largest private bank. Amy Lo, in the […]

The post “The power of two”: Amy Lo on retaining clients and talent as UBS enters next chapter appeared first on Asian Private Banker.

UBS Global Wealth Management’s (UBS GWM) Asia Pacific profit before tax more than doubled year-on-year (YoY) in 2Q24 mainly driven by the integration with Credit Suisse. In APAC, UBS GWM’s profit before tax stood at US$310 million in 2Q24, up US$162 million, or 109%, from US$148 million in 2Q23. This was mainly driven by the consolidation of Credit Suisse revenues […]

The post UBS GWM APAC 2Q24 profit doubles following Credit Suisse consolidation appeared first on Asian Private Banker.

Amy Lo has transformed UBS into a major player in the ultra high net worth (UHNW) sector in Asia Pacific, playing a key role in two major mergers. Over nearly three decades at UBS, Lo has risen to prominent roles, guided by mentorship and foundational experiences. In an interview with Asian Private Banker, Lo reflects on her career milestones, the […]

The post “Something that excites me”: Amy Lo’s hole-in-one career at UBS appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has hired a senior banker for its private client team, Asian Private Banker can reveal. Hui Leong Tng announced his new job at UBS GWM in Singapore as market team head on his personal LinkedIn on Sunday. Tng previously spent over 11 years at Singapore lender OCBC, where he was most recently head of […]

The post UBS GWM hires OCBC private client head in Singapore appeared first on Asian Private Banker.

UBS Global Wealth Management (UBS GWM) has lost a senior banker from its global family office unit, Asian Private Banker can reveal. Jenny Su, market head for Global Family and Institutional Wealth (GFIW), has recently left the bank, according to people familiar with the matter. UBS declined to comment. APB has been unable to determine Su’s next move. Su has […]

The post UBS GWM’s GFIW market head in Singapore departs appeared first on Asian Private Banker.

With the announcement that UBS’s Iqbal Khan will be dispatched to Asia with the new title of president of Asia Pacific and co-head of GWM globally, all eyes are currently on the region’s biggest private bank. One of Khan’s major challenges will be retaining staff at the Swiss giant, which boasts an army of around 1,100 relationship managers (RMs) in […]

The post Movers & Shakers – May 2024: Which banks could gain from UBS’s pain? appeared first on Asian Private Banker.

Despite the long-term structural challenges plaguing Asia’s largest economy, UBS Global Wealth Management’s chief investment office (UBS GWM CIO) believes the recent rally in Chinese equities still has some way to go. Adrian Zuercher, head of global asset allocation & co-head of global investment management APAC at the firm, believes there will be more “holding on” or long-term allocations to […]

The post China rally still has some way to go as long-term capital returns – UBS GWM appeared first on Asian Private Banker.

UBS Global Wealth Management’s (UBS GWM) president Iqbal Khan will relocate to Asia this summer as the Swiss lender moves closer to completing its takeover of long-time rival Credit Suisse. UBS announced changes to its group executive board on Thursday, mostly focused on the Americas and Asia Pacific. Effective 1 September, Khan, president of GWM and a former Credit Suisse […]

The post Iqbal Khan moves to Asia as UBS announces executive board reshuffle appeared first on Asian Private Banker.

With global sustainable investment (SI) assets under management (AUM) among private banks crossing US$1 trillion in 2023 – representing a sizeable opportunity for firms with the right offerings – questions still remain about SI progress in Asia as it is unclear how much of these funds come from the region. Private banks have indicated to Asian Private Banker that Asian […]

The post A US$1tn market: Here’s how private banks’ sustainability progress stacks up in Asia appeared first on Asian Private Banker.

A senior Indonesia banker from Credit Suisse has recently left UBS Global Wealth Management (UBS GWM), Asian Private Banker can reveal. Urban Binggeli has recently left the Swiss bank, multiple sources have confirmed. Binggeli has worked at Credit Suisse for over 13 years in Singapore and Switzerland. He was a former team leader for the Indonesia market at Credit Suisse […]

The post Former Credit Suisse Indonesia team head departs UBS appeared first on Asian Private Banker.

Private banks, wealth and asset managers are currently missing out on billions of dollars worth of potential revenue in Japan, a new industry report has found. This is according to Morgan Stanley MUFG’s new report, released on Friday, which found that Japan’s wealth and asset management industry has a potential revenue opportunity of US$42 billion by 2030. In the bull […]

The post US$42bn opportunity: But why aren’t private banks targeting Japan? appeared first on Asian Private Banker.

Known as the Iron Lady during the early days of private banking in Asia, Kathryn Shih has faith that her friends at UBS will do a “great job” when it comes to its merger with Credit Suisse, with access to a large pool of talent and an influx of new clients. Shih suggests those aiming to succeed in wealth management […]

The post “A great opportunity, a great challenge”: Private banking legend Kathryn Shih on UBS-Credit Suisse merger appeared first on Asian Private Banker.

It is no secret that the key to success as a private banker in Asia is your network. But increasingly that concept has spread to the digital age, with the region’s top relationship managers, market heads and executives all seeking to expand their influence on social media. That is most evident on LinkedIn, the world’s largest professional network, which is […]

The post Influencer power list: The private bankers you need to follow on LinkedIn appeared first on Asian Private Banker.

Aggrieved Asian holders of Credit Suisse additional tier one (AT1) bonds may have another card to play when it comes to clawing back their losses following the wipe-out of these instruments last year. The strategy being pursued by international law firm Withers does not seek to bring an action against either Credit Suisse or its new parent UBS, but against […]

The post Asia’s Credit Suisse AT1 bondholders target Swiss government in bold strategy to recover losses appeared first on Asian Private Banker.

Kathryn Shih rose to prominence in the early days of wealth management, a field where women were just beginning to find a place in a predominantly male-dominated field. Her path to success was not smooth sailing, yet she made a lasting impact on the industry. As the driving force behind UBS’s wealth management business in Asia, Shih is widely admired […]

The post “I’m happy leaving my career”: Kathryn Shih’s second act appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM) attracted net new assets (NNA) of US$6.4 billion in Asia Pacific in 1Q24, as the Swiss banking giant forges ahead with the integration of historic rival Credit Suisse. In Asia Pacific, UBS GWM’s profit before tax (PBT) increased by US$64 million to US$315 million for the quarter, the firm said in its recent earnings report. […]

The post UBS GWM soaks up billions of NNA in APAC amid Credit Suisse integration appeared first on Asian Private Banker.

LGT Wealth India’s assets surged by over 75% last year, with its ex-Credit Suisse investment team helping to drive growing interest in fixed income discretionary portfolio management (DPM), supported by recent tax changes. As CEO of LGT Wealth India, Atul Singh is not fazed by the bigger foreign competition – he knows it is not about size, but service. In […]

The post LGT Wealth India’s AUM jumps 75% while ex-Credit Suisse team drives DPM push appeared first on Asian Private Banker.

As global geopolitical tension continues to escalate in the Middle East and with sticky inflation here to stay, UBS Global Wealth Management chief investment office (UBS GWM CIO) highlights the keys to investing in the second quarter and beyond. Oil as an insurance Oil was once again trading high at US$90 a barrel last week when Iran launched an attack […]

The post CIO Insight: UBS GWM’s Q2 playbook on commodities, fixed income and equity appeared first on Asian Private Banker.

In 2023, discretionary portfolio management (DPM) industry conversations were dominated by the topic of how to get clients out of cash and put their money back to work. Meanwhile, much time and energy was spent promoting sustainable investments (SI). Amid all the chatter, have banks managed to increase their Asia DPM penetration? And have more funds really been directed towards […]

The post Asia 2023 DPM and SI League Table: Sustainable investments break US$1 trillion, while DPM penetration stays stuck in the mud appeared first on Asian Private Banker.

2023 was a year that saw an intense war for talent among private banks in Asia Pacific. The merger of UBS and Credit Suisse formed the region’s largest private bank, allowing the banking behemoth’s competitors to woo ex-Credit Suisse bankers left adrift amid the fallout. Now the dust has settled – and taking a close look at the hard data – […]

The post Asia 2023 RM Headcount League Table: PB headcount edges higher amid industry shakeup appeared first on Asian Private Banker.

Private banks in Asia-Pacific saw their AUM jump by a total of about US$400 billion in 2023, reversing outflows from the previous year, as competition for the top spots in Asian Private Banker‘s Asia 2023 AUM League Table intensified. However, while some institutions achieved double-digit growth, others grappled with outflows. By the end of December 2023, the Asian private banking […]

The post Asia 2023 AUM League Table: Private banks see US$400bn asset windfall appeared first on Asian Private Banker.

Another senior Credit Suisse banker has departed UBS Global Wealth Management (GWM), Asian Private Banker has learnt. Joanne Goh, a senior banker at Credit Suisse has recently left the bank, multiple sources told Asian Private Banker.  Goh had worked at Credit Suisse in Singapore for over two decades. She was most recently senior client partner at the bank covering Indonesia […]

The post UBS loses another Credit Suisse senior client partner appeared first on Asian Private Banker.

With interest rates set to fall this year and rising DPM interest from private bank clients, private bankers at Asian Private Banker‘s DPM Leaders Conversation 2024 revealed some of the new solutions they are pitching to clients that are currently heavy on cash. BNP Paribas Wealth Management, UBS Global Wealth Management (UBS GWM), HSBC Global Private Banking and Wealth, and […]

The post DPMLC 2024: How private banks are tailoring DPM solutions as rates fall appeared first on Asian Private Banker.

More bankers from Credit Suisse in Hong Kong and Singapore are set to depart UBS, with the latter starting to cut more jobs in Asia across its Global Wealth Management (GWM) unit. In Singapore, Asian Private Banker understands from people familiar with the matter that two Credit Suisse senior bankers, Daniel Soo and Hedi Dorai, will leave. Soo is a managing […]

The post Credit Suisse senior bankers depart UBS GWM in Hong Kong and Singapore appeared first on Asian Private Banker.

The private banking and wealth management industry in Asia has a significant number of women in senior leadership positions, from UBS’s Amy Lo and Jin Yee Young, J.P. Morgan Private Banking’s Harshika Patel, to Citi’s San-San Chan and DBS’s Carol Wu, to name but a few. Here, Asian Private Banker has gathered the views of ten leading women, who shared their […]

The post IWD 2024: What new PB female leaders can learn from Amy Lo and Harshika Patel appeared first on Asian Private Banker.

UBS Global Wealth Management’s (GWM) operating profit before tax for FY23 dropped 28% YoY due in part to costs relating to its ongoing integration with Credit Suisse, despite a 12% jump in total revenue, according to the firm’s recent earnings report. In addition, UBS GWM attracted US$131.7 billion in net new assets in FY23, with Asia contributing the most net […]

The post UBS GWM profit down 28% amid Credit Suisse integration, despite 12% revenue jump appeared first on Asian Private Banker.

What is the hottest area of competition between private banks in Asia at Chinese New Year? DPM market penetration? Wallet share? The fastest growing net new money? You guessed it, custom red packets. These ornately-adorned envelopes, known as laisee in Cantonese or hongbao in Mandarin, are presented – often containing money – to friends, family members, colleagues and clients as […]

The post Poll: Which private bank has the best red packets in the year of the dragon? appeared first on Asian Private Banker.

Asia still has a long way to catch up with its European counterparts when it comes to philanthropy. However, for UBS, the bank looks to enhance its offering for the next generation in Asia by leveraging its global philanthropy community. With more than two decades of professional experience in global health, government affairs, and philanthropy, Geng Ming joined the Swiss […]

The post How UBS leverages global community for next-gen philanthropy offering appeared first on Asian Private Banker.

Ten months after Credit Suisse was forced into a shotgun marriage with historic rival UBS, many bankers from the former have now jumped ship. This raises the question – what next for these bankers, and more importantly, UBS? Here, Asian Private Banker takes an in-depth look into how ex-Credit Suisse bankers are forging new careers at rival institutions and asks what […]

The post US$165bn question: What next for Credit Suisse bankers post-UBS? appeared first on Asian Private Banker.

The former Credit Suisse onshore Thailand head has resigned from UBS and is set to move to DBS Private Bank, Asian Private Banker has learnt. Edwin Tan resigned from UBS at the end of 2023, according to people familiar with the matter. He was the former market group head for the Philippines, Thailand & Vietnam, as well as head of […]

The post Credit Suisse Thailand market head set to join DBS Private Bank appeared first on Asian Private Banker.

Interest rates, China and sustainability are among the topics that will be top of mind for private bankers in the region next year, according to leading CEOs who took part in Asian Private Banker’s Final Word 2023. The year in review project, which collects the insights and views of private banking and wealth management leaders, covers trends ranging from investments, […]

The post Final Word 2023: What is keeping private bank CEOs up at night? appeared first on Asian Private Banker.

UBS has entered a strategic partnership with tech incubator Hong Kong Science and Technology Parks Corporation (HKSTP), the bank announced on Wednesday. The strategic partnership aims to showcase innovative technology in the Greater Bay Area and nurture the next generation of unicorns, the bank said. HKSTP provides a platform for the business community and entrepreneurs to engage with tech start-ups […]

The post UBS partners with Hong Kong tech incubator for “win-win” collaboration appeared first on Asian Private Banker.

A former Credit Suisse Hong Kong veteran private banker has resigned from UBS, Asian Private Banker can first reveal. Rickie Chan, the former CEO, Hong Kong branch, and head of Greater China at Credit Suisse, recently resigned from the Swiss bank, APB has learnt. Chan was appointed as UBS Global Wealth Management (GWM) head of Greater China in Hong Kong, and […]

The post Ex-Credit Suisse Hong Kong CEO resigns from UBS appeared first on Asian Private Banker.

Private banks in Asia reported strong performance across the board in 3Q23, on the back of increasing revenues and positive net new assets. Below, Asian Private Banker breaks down how the region’s banks performed this past quarter. Retail-linked banks HSBC Wealth and Personal Banking (WPB)’s revenue jumped 71% from the previous year, reaching US$6.7 billion in 3Q23. Net new money […]

The post Private banks report strong APAC performance, positive asset inflows in 3Q23 appeared first on Asian Private Banker.