Swiss banking giant UBS has opened a branch in Shanghai, China that will focus on wealth preservation and succession planning services.
The branch, which is located in Xintiandi in Huangpu District, will offer private banking services to wealthy individuals.
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The services provided by the branch will include property management, philanthropy and estate planning.
UBS wealth management head for China Amy Lo said there has been a shift in customer demand in the past few years, with more focus now on family needs.
"China will continue to post higher growth than any other comparable global economy, and rapid wealth creation here will present huge growth potential for our wealth-management business," shanghaidaily.com quoted Jurg Zeltner, president of UBS Wealth Management, as saying.
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