1. Newsroom
  2. UBP plans new Asia hires as profits rise
Menu
UBP dans la presse 04.04.2018

UBP plans new Asia hires as profits rise

UBP plans new Asia hires as profits rise

Citywire (29.03.2018) - After recording an increase in assets and revenue in the last couple of years, UBP is now looking to further expand its team in Asia with more hires planned for 2018.


Asia CEO Michael Blake said revenue and assets under management (AUM) increased by 20-25% in the last few years on the back of organic growth and new hires in Singapore and Hong Kong.

‘There have been many approaches to Asia in the last decade. Some people have chosen to overinvest and carry losses during that period. Our approach is to grow while making profits,’

Last year UBP took CHF 220.4 million ($231.9 million) in group profits, up 25% from the previous year. Total private banking AUM in Asia reached $14 billion, of which $1.2 billion is in funds.

The region recorded approximately 45% growth in assets in discretionary portfolio management and a three-fold growth in the advisory business. According to Blake, the asset management and private banking units in Asia together manage about CHF 20 billion in assets. The Swiss private bank has two offices in the region. Hong Kong looks after clients in Hong Kong, Greater China and the Philippines, while its team in Singapore services investors in Singapore, Malaysia, Thailand, Indonesia and non-resident Indians.

For the past two years, Hong Kong has been a strong focus for UBP. It hired three market heads and made other senior appointments, but the bank is switching focus to Singapore now.

‘We will see some movement in Singapore over the next six months,’

Blake said, adding that the hires will be primarily for the Singapore market, but other segments, such as NRIs, will closely follow in priority.

The executive expects to hire between 10-20 senior bankers across Hong Kong and Singapore in 2018, with the aim to bring in clients that keep over $10 million with the bank.

Blake said these such clients are already in the majority for the bank.

What’s more, in a bid to bring in more family office clients, UBP is also growing its wealth planning teams in Asia, and broadening the advisory proposition beyond insurance and trust to wealth planning for family offices.

Commenting on investment trends, Blake said the group is seeing client demand for hedge funds and other alternatives, in addition to interest in thematic investments.

As such, UBP is upping its alternative investment suite offered to clients in Asia. It recently relocated Geoffroy Troesch, a private markets specialist from the Direct Investments Group, from Geneva to Hong Kong. It currently offers actively managed certificates for themes such as autonomous and electric cars as well as millennial trends in IT, media, consumption and financials.

Blake concluded ‘I do think the [regulatory] balance is changing somewhat and there is more scope for the industry to refocus on clients. If anything,

'I think 2017 maybe was a watershed, where we increasingly have the opportunity now to become external facing rather than internal facing.’

 

UBP Offices in Asia

Blake.jpg

Mike Blake
CEO Private Banking Asia

Newsletter

Sign up to receive UBP’s latest news & investment insights directly in your inbox

Click and enter your email address to subscribe

Expertise

Impact investing, créer le monde de demain

L’«impact investing» vise à résoudre les problématiques majeures de la planète en identifiant des investissements attrayants à long terme.

Lire plus

Actualités les plus lues

UBP dans la presse 18.10.2018

L’innovation comme moteur du secteur technologique

Sphere (10.2018) - Depuis la crise financière de 2008, le secteur de la technologie a affiché une performance annuelle impressionnante de 15,4%, surpassant largement celle des actions globales (10,2%).

UBP dans la presse 26.09.2018

Asset TV Fund Selector: Fixed Income

What does the end of quantitative easing mean for bond investors? What should be the right exposure to emerging bond markets and why are active managers better equipped than passive ones to handle the return of volatility? Mohammed Kazmi, Portfolio Manager & Macro-Strategist Global and Absolute Return Fixed Income at UBP, recently participated in an Asset TV broadcast outlining the risk and reward trade-offs in fixed-income markets over the next six to twelve months.

UBP dans la presse 28.09.2018

Les banques suisses vont profiter de l'IA

Bilan (25.09.2018) - « Si je devais parier sur les métiers phares dans les années à venir, il y aurait banquier suisse ! ». C’est la prophétie de Laurent Alexandre que l’on n’attendait pas forcément.


A lire également

UBP dans la presse 18.10.2018

L’innovation comme moteur du secteur technologique

Sphere (10.2018) - Depuis la crise financière de 2008, le secteur de la technologie a affiché une performance annuelle impressionnante de 15,4%, surpassant largement celle des actions globales (10,2%).

UBP dans la presse 28.09.2018

Les banques suisses vont profiter de l'IA

Bilan (25.09.2018) - « Si je devais parier sur les métiers phares dans les années à venir, il y aurait banquier suisse ! ». C’est la prophétie de Laurent Alexandre que l’on n’attendait pas forcément.