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November 2, 2020

UBS to foray into Qatar’s wealth management space

UBS has unveiled plans to bolster its footprint in the Middle East by venturing into the wealth management market of Qatar.

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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.

A non-binding MoU has been signed between UBS and the Investment Promotion Agency of Qatar (IPA Qatar) in this regard.

IPA Qatar is licensed on the Qatar Financial Centre (QFC) platform. QFC is a major onshore financial and business centre in the region.

UBS did not reveal further details about its plans in Qatar, where it was not active till now.

The Swiss wealth manager already has offices in other Middle East markets such Saudi-Arabia, Bahrain, Dubai, and the United Arab Emirates.

The agreement was signed by UBS chairman Axel Weber and CEO Ralph Hamers, who recently succeeded Sergio Ermotti.

The move is part of UBS’ strategy to double assets in the Middle East and Africa.

Qatar was an obvious choice for UBS as it is the world’s biggest exporter of liquefied natural gas and also one of the richest countries in terms of per-capita income.

On behalf of Qatar, the agreement was signed by Ali Al Kuwari, the minister of commerce and industry.

Hamers joined UBS after serving as the CEO of Dutch bank ING Groep NV for nearly seven years.

Recently, UBS announced plans to invest $200m in fintech startups and other technology firms through the “UBS Next” portfolio.

UBS Next will target direct investments in early-stage fintech firms and other tech ventures.

As part of the development, the Swiss bank has entered into an alliance with venture capital firm Anthemis in a bid to ramp up investment opportunity identification and deal flow.

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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