in a few words
2021 was a year full of rebounds, with most economies eventually able to offset the loss of activity caused by the health crisis. Yet the recovery was partly thwarted by repeated supply chain disruptions and rising inflationary pressure, with waves of infections also leading to instability.
Against this backdrop, UBP once again demonstrated its adaptability and resilience and the quality and diversity of our services and products were recognised with a fresh set of awards.
In 2021 we took several major steps forward in terms of acquisitions in our strategic markets. We expanded in Luxembourg by acquiring Danske Bank’s local wealth management business, operated under the name of Danske Bank International S.A. (DBI). That transaction, which was completed in January 2022, has doubled the size of our operation locally and made us one of the leading players in the Luxembourg financial hub. We also completed the acquisition of Millennium Banque Privée in Geneva in November 2021, strengthening our positions in the Portuguese and African markets.
During the year, we continued investing in our business, aiming to align our asset management solutions with current – but also future – market conditions, in particular by developing a broad range of responsible investment strategies, which are in increasing demand among both our private and our institutional clients.
Another very popular segment particularly among private clients has been unlisted assets, which present the advantage of having little or no correlation with traditional assets. In response we strengthened our Private Markets Group (PMG) franchise, which is aimed at qualified and institutional investors, and it now features more than 30 experts working in Geneva, Zurich, London, Singapore and Hong Kong.
Meanwhile we also reinforced our wealth management teams in Zurich. Similarly, in Asia, our subsidiaries in Hong Kong and Singapore saw the arrival of new teams as we sought to broaden our footprint in Asia.
Sustainability is a key driver in our investment decisions and our actions as a company.
Our responsible investment expertise allows us to play an active role in the transition to a sustainable future.
Concrete targets and measures help us to continually lower our own environmental footprint.
Our dedicated governance structure is the foundation of our sustainability drive.