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Insight 16.05.2023

Our commitment to family offices

Our commitment to family offices

As an entrepreneurial family-owned private bank, UBP is uniquely placed to help ultra-high-net-worth (UHNW) families manage their wealth. In some cases, the best way to achieve this is by setting up a family office: the family’s in-house wealth management firm.

UBP’s approach to family offices is to ensure that wealth, asset management and governance expertise is in place to meet the stated purpose of each family’s wealth. UBP offers a wide range of expertise in family offices: advising families on choosing the right solution for them; helping them to set up a single-family office; institutionalising a multi-family office; or supporting them in the management of such outfits.

Building on a strong track record of helping families in Switzerland and elsewhere in Europe for decades, UBP has strengthened its expertise in family offices to clients across Asia over the past years. Our team leverages extensive expertise and deep understanding of local cultures and markets to bring the best practices to our clients. We have also recently strengthened our presence in China, opening a new office in Haikou, Hainan province, and obtaining a Qualified Domestic Limited Partner (QDLP) licence.

Family offices have always been regarded as the highest form of wealth management service. Our services add value to UHNW families in three key ways:

  • Protecting wealth: Defining the purpose of the family’s wealth, including philanthropy, and facilitating its transition to the next generation, identifying risks both within and outside the family, and addressing them. By having its own family office, a family can also safeguard privacy.
  • Managing assets: Growing the family’s wealth by managing their investment portfolios, using UBP’s market-leading skills in this area, and reporting back to the family regarding investment strategy and performance.
  • Providing expertise: Educating family members on the best ways of organising and running a family office, as well as connecting them to a comprehensive network of subject matter experts, service providers and product specialists.

“With the family office segment having grown substantially everywhere in the world in the last five years, there is a lot of demand for expertise that really stands out. As a family-owned and family-run global bank, UBP possesses the know-how that wealthy families need to rely on, especially those that run businesses of their own.”

Monica Espinosa, Head of UBP Family Office Services

UBP has extensive skills and experience in the area of family offices and provides these services to UHNW families in Europe and Asia. There is strong demand in this area as families around the world are growing increasingly aware of the benefits that a family office can bring.

For example, this concept was relatively foreign in mainland China 15 years ago. Today, the number of UHNW families is growing rapidly in mainland China and they are seeking out family offices to cater to their sophisticated needs.

Riding on this, the 2022 Chinese Family Office Industry Trend Report produced in close collaboration with Hurun Report, analyses the trends, challenges and opportunities that single- and multi-family offices face today.

This report revealed that the guiding principles of Chinese family offices reflect a preservation of local traditions and are deeply rooted in Chinese culture. Testament to this is the centuries-old Chinese tradition of the jia zai (family chancellor): a trusted advisor who helps families to protect and grow their wealth, define and uphold their values (such as ethical and social responsibility), as well as maintain and increase their social influence.

“Going into this new era, UBP will continue to provide wealthy families and Chinese family offices with insightful and highly innovative wealth and asset management solutions, drawing on its forward-looking vision, entrepreneurial spirit and exceptional investment expertise.”

Chao Wang, Head of Wealth Management, China

Monica Espinosa
Head of UBP Family Office Services

View her Linkedin profile

Monica has extensive experience in wealth management and multi-family office services in Switzerland. She joined UBP in 2013 and, having been instrumental in developing the Bank’s External Asset Managers business, in January 2022 she took on the role of Head of Family Office Services, a centre of expertise which she has been actively developing and expanding since.Monica has extensive experience in wealth management services in Switzerland and has been instrumental in developing the Bank’s External Asset Managers business. She joined UBP in 2013 and in January 2022, took on the role of Head of Family Office Services, a centre of expertise which she has been actively developing and expanding since.

Chao Wang, PhD
Head of Wealth Management, China

View his Linkedin profile

Chao Wang joined UBP as Chief Executive, UBP Private Fund Management (Hainan) Co., Ltd. in September 2021. He brings to UBP over fifteen years of experience in wealth management, insurance, trust and financial advisory across the United Kingdom, Hong Kong and mainland China.

The products or services mentioned are provided as general information only and are not intended to provide investment or other advice. Not all products or services described are available in all jurisdictions. Past performance is not a guarantee of future results. For more details, please refer to the full disclaimer on UBP’s website.


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