Union Bancaire Privée (UBP) is a leading partner for external asset managers (EAMs). With decades of experience working alongside EAMs, UBP stands out for its expertise and long-standing commitment to this strategic clientele. SPHERE spoke with key managers from the team to understand how the Bank is responding to the evolving needs of EAMs while consolidating its position as a market leader.
Why is UBP a leading player among EAMs worldwide?
Frédéric Toselli: With CHF 23 billion in assets under management, UBP’s EAM department is a pillar of the Bank’s global activities. With offices in 10 locations, the department has particularly deep roots in Switzerland, with teams in Basel, Zurich, Lugano and Geneva, but also a strong presence in the main international financial centres. Our 75 experts work with over 210 EAMs every day in Western Europe, the United Kingdom, Latin America, the Middle East and Asia. UBP also has a robust financial base, as evidenced by its Tier 1 ratio of 21.3% and Moody's Aa2 rating for long-term deposits. The Bank is also renowned for its professionalism and close relationships with its EAM partners, as demonstrated by the eight-year average tenure of its certified relationship managers.
How has the integration of Societe Generale strengthened UBP's EAM business?
Pierre-Emile Schifferli: The arrival of 15 employees and CHF 4 billion in assets under management has enabled UBP to consolidate its relationships with strategic partners and expand its client base and geographical coverage, particularly in the Middle East. Integrating a dedicated Market Solutions team has also increased UBP's competitiveness, as it acts as a hub for market and investment activities with growing momentum in alternative investments, private markets, and structured products.
What trends are you seeing in the EAM market?
Patrizia Colombini Schaad: In Switzerland, EAMs face significant regulatory and financial challenges. In this context, larger players are better positioned to achieve economies of scale, invest in technology, and develop their service offering. The sector is also undergoing a generational change, both in terms of the EAMs themselves and their end clients. Thanks to the expertise of its 14 wealth planners who cover a wide range of jurisdictions, UBP can support EAMs effectively in this transition across their client base. At the same time, we are enhancing the sophistication of our investment solutions and digitalising our tools to better meet the expectations of the next generation of EAMs.
How does cooperation between divisions enable UBP to improve its offering to EAMs?
Anja Karcher: Our EAM teams and the Treasury & Trading (T&T) division work closely together to provide EAMs with direct, tailor-made, first-class execution solutions and regular tactical trading ideas based on the latest market trends. Our ability to issue actively-managed certificates (AMCs), which is backed by UBP's solid balance sheet and powered by the expertise of the T&T division, opens up a new world of investment opportunities. A recent example is the USD 280 million AMC issued by our colleagues in Hong Kong. We frequently share our market expertise with our EAM partners, notably through short weekly webinars, during which professionals from our Investment Services department present their investment convictions.
What challenges and opportunities do you anticipate for UBP's EAM business?
Christophe Cantala: As our EAM business grows, maintaining a consistent approach internationally is a major challenge for the department. In line with the principles established at our headquarters in Geneva, we operate as a single bank across different locations, but one which capitalises on regional specificities. Building on common foundations while adapting to local contexts enables us to grow the EAM team's overall business in a targeted manner.
How does UBP leverage technology to benefit EAMs?
Juan Alvarez: UBP considers technology to be essential to continuously improving its operational efficiency and service quality. We have therefore invested in the ELUS platform, which is dedicated to multi-issuer structured products. This allows us to offer a 'click-and-trade' experience with customised returns and multi-custodian delivery. We have also launched CREAM, a proprietary platform for AMCs, through which EAMs can easily design, issue and manage customised certificates. Our e-Banking platform has also been enhanced with a new 'eCall-back' feature that allows clients to easily confirm their outgoing transfers.
How does UBP support EAMs in an ever-changing regulatory environment?
Sylvain Billard: We strive to make our activities, and those of EAMs, as straightforward as possible. First, we use digital solutions to simplify the onboarding, annual review and document collection processes. Second, our proactive and collaborative approach is based on training and information sharing, helping our EAM partners to keep up with changes in regulations and best practices. We frequently organise information sessions and workshops on key topics in cooperation with leading Swiss experts.
