From the resurgence of Switzerland as a wealth hub, the value of global diversification, and the personal journey that shaped Teresa Lee's leadership philosophy.
When a promising piano prodigy lost her mentor to a sudden stroke, she traded concert halls for boardrooms - and found a new way to compose harmony.
Today, as UBP’s Teresa Lee steers North Asian strategy from Hong Kong, she draws on decades of performance discipline and personal reinvention to guide clients through an era of geopolitical uncertainty, jurisdictional diversification, and the quiet return of Swiss private banking.
Switzerland making a big comeback
"These days, clients are really looking for diversification - not just in their investments, but also across jurisdictions. While Hong Kong and Singapore are still incredibly important hubs, I’m seeing Switzerland making a big comeback. And honestly, it makes sense. With all the geopolitical uncertainties out there, people want stability. At UBP, we’re in a great position to help because we’ve got booking centers around the world. That means we can really support our clients wherever they need us," Lee said.
Now, Lee and her teams are focusing on three main client segments.
"First, ultra-high-net-worth individuals - these are clients with an average of CHF25 million (or in US$30 million) in assets under management. Second, we’re collaborating with other financial institutional to explore more business opportunities. And third, we’re building selective partnerships with external asset managers, especially those who value our expertise in alternative investments," she said.
She added that UBP's hedge fund platform is something she's really proud of. "We’ve been building it since 1972, and today, we offer over 90 strategies. That, along with our private market offerings, really sets us apart - especially for family offices and sophisticated investors," she said.
A personal music journey
Not like many of the others saw financial is the only way, Lee actually didn't map it out in early days.
"My dream? I never thought I’d end up as a private banker. Growing up, I actually wanted to be a pianist. I really believed I could make a career out of music," she said.
"I started playing piano when I was five, and one of my proudest moments was earning a two-year music scholarship in Hong Kong during secondary school. I was one of just 20 or 30 students selected. My professor had this amazing teaching style - he’d have us sit and listen with our eyes closed, really feeling the music before we played. He taught me to present music with soul," she said.
The music came to an abrupt halt.
“But then, he passed away suddenly from a stroke. It was devastating. He was like family to me, and his teaching style was so unique that I couldn’t imagine learning from anyone else. I actually stopped playing piano for a while after that," she said.
"Losing my professor was a pivotal moment in my life - it’s what ultimately steered me toward business. My first mentor at my first job really pushed me to step out of my comfort zone, and that shaped the way I lead today," she shared.
Leadership is about fostering positive competition
Lee won the ‘Outstanding Young Private Banker’ award in 2006. As a fan of F1 and tennis, she can be competitive, but in a good way.
"(winning the award) It was another defining moment for me. It wasn’t just an honor; it was a turning point that propelled me into management. That experience taught me two invaluable lessons: the power of truly listening and the importance of building a strong, cohesive team. Those lessons have stayed with me ever since," she said.
"For me, leadership is about fostering positive competition. I love celebrating wins and sharing best practices. It’s not about individual heroics - it’s about working together as one team,"
she told AsianInvestor Wealth.
Stay curious
"To all the women out there who want to lead: stay confident, stay curious, and stay positive. Honestly, there are so many women out there who are more capable than I am. Leadership isn’t about titles – it’s about resilience in the face of adversity and a growth mindset driven by curiosity and progress," she noted.
"Leaving roles where I felt stagnant was one of the best decisions I’ve ever made. At UBP, I see so many opportunities to go the extra mile, and that’s what keeps me energized every single day,"
Teresa Lee assumed the role of region head for North Asia and Chief Executive Hong Kong at UBP in August 2024.
Prior to joining UBP, she served in senior leadership positions at several prominent financial institutions. Most recently, Lee was the head of Greater China and later the vice-chair of Greater China at Bank of Singapore.
"When it comes to hiring, we’re not just looking for bankers who bring AUM to the table. We want partners - people with an entrepreneurial mindset, emotional intelligence, and a real alignment with our culture. A universal banking background? Honestly, it’s not a must," she said.
