Union Bancaire Privée (UBP) has applied for a
banking licence in Singapore as part of its strategy to grow its
business in Asia.
The Swiss private bank seeks approval for a
merchant banking licence to extend its current advisory presence,
allowing it to book private and institutional clients across
Asia.
UBP’s chief executive, Michel Longhini, said
the merchant banking licence for the regional headquarters in
Singapore will ensure a complete presence in the bank’s Asia wealth
markets.
New Asia CEO
As part of its growth strategy across Asia,
the bank has appointed Stephan Repkow, as chief executive of
Private Banking in Asia.
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By GlobalDataRepkow has over 10 years banking experience in
the Asia-Pacific, having worked for Deutsche Asset Management,
Citigroup Private Bank and BNP Paribas.
UBP has shifted its focus on emerging markets
since 2008, in particular to Asia, Eastern Europe, Latin America
and the Middle East.