Swiss wealth manager UBS has further expanded its footprint in China by opening Beijing Huamao Sub-branch through its locally-incorporated subsidiary UBS (China) Limited.
Situated at the Central Business District of Beijing, the sub-branch will seek to further expand strategically and boost the range of products and services the bank offers.
The branch also includes a range of contemporary works of art selected from the UBS Art Collection, the Swiss wealth manager said.
Kathryn Shih, head of UBS Wealth Management for Asia Pacific, said: "China is an important market for UBS and offers many business opportunities. UBS sees great potential for its China wealth management business and building a strong domestic franchise remains a priority for UBS."
Edmund Koh, head of UBS Wealth Management for South East Asia and APAC hub, said:"UBS (China) Limited, a wholly-owned subsidiary incorporated in China in 2012 is committed to providing superior international advice and holistic solutions to Chinese domestic clients to meet their personal, family and corporate need."
UBS, which has 17 wealth management offices in six countries, had total invested assets of CHF238bn from wealth management clients in Asia Pacific for the second quarter of 2014.