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

The bank opened the Singapore office at 9 Penang Road.

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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.

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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.