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November 18, 2021

UBS opens largest Asia Pacific office in Singapore

Swiss banking major UBS has opened its largest office in Asia Pacific, at Singapore, as well as announced two technology-related initiatives.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The bank opened the Singapore office at 9 Penang Road.

The office launch was a part of the 50th anniversary celebration that was attended by chairman Axel Weber, global chief executive Ralph Hamers, APAC CEO Edmund Koh and others.

Completely powered by renewable energy, this 400,000ft2 property will serve as the largest office for the bank in the Asia Pacific region.

Along with the office launch, the firm introduced two new tech initiatives, called TechConnect SEA and UBS Circle One.

TechConnect SEA is an ecosystem to help tech firms to link and increase next generation of unicorns in the Southeast Asian region.

UBS Circle One is an app to link investors to ideas on a global ecosystem. This app was developed in Singapore.

UBS Asia Pacific president Edmund Koh said: “Singapore is the bank’s gateway to this region, bringing together people and ideas across the global UBS network. With the rise of Asian wealth, UBS has been the bank for Asian entrepreneurs, family offices and fast-growing tech firms.

“Looking ahead, we expect ASEAN’s new economy to more than double to USD800 billion by 2025, from USD380 billion.

“One example is how we are connecting the growing number of technology unicorns across the region.

“To this end, we are proud to launch TechConnect South-East Asia (SEA) in Singapore, which will help connect technopreneurs to our global network of clients, capital and expertise.”

Last month, UBS announced its plans to further tap into the affluent segment in the US by launching a digital wealth manager in the country.

The bank intends to launch a digitally scalable advice model for wealthy Americans sometime next year.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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