Swiss banking giant UBS has hired 88 advisers in the Asia Pacific region this year taking the total tally of advisors in the region to 1,120.
Kathryn Shih, head of the firm’s Asia-Pacific wealth-management business said that the new hires will be largely based in Hong Kong and Singapore.
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The move comes after the firm’s management business in the region grew 38 % in the past two years.
The assets under management at UBS’s Asia-Pacific region increased to US$245 billion at the end of last year from US$177 billion in 2011.
"The Asia Pacific continues to be one of the fastest-growing regions in the world for UBS and we continue to hire strategically in accordance with the growth needs of the business," said Shih.
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