In his new role, Bryan Crawford, who was previously associated with JP Morgan, will be responsible to ensure that the billionaires get better access to corporate finance transactions including initial public offerings, reported Reuters.
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"The premise is that a large selection of very wealthy and sophisticated clients need and want services beyond what the average private banking model can provide," Reuters quoted the joint head of the family office business at UBS, Jerry Wattenberg , as saying.
Wattenberg added that ultra high net worth individuals or family offices could often invest over US$25 million in a single deal.
UBS is also investigating whether it can create pools of capital from these clients to invest in a range of deals, the Reuters report added.
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