Union Bancaire Privée announces new joint ventures in Asia
Union Bancaire Privée (UBP) announced today the creation of two new Asian joint ventures that will spearhead the development of its asset management business in the world's fastest-growing market for investment services. UBP Asset Management (Asia) Co Ltd will operate across Asia ex-Japan from its main office in Hong Kong, while Taipei-based TransGlobe Securities Investment Consulting Company will concentrate on the Taiwanese market. Both companies are jointly controlled by UBP and Chung Wei Yi Co Ltd, owner of TransGlobe Life Insurance. Together with its partner, UBP will provide local clients with a full range of investment solutions, while offering its global client base privileged access to Asian markets.
This move is a significant step forward in UBP's expansion plans in Asia and other developing markets, and follows the company's recent announcements of a number of senior hires in both its Private Banking and Asset Management arms in Hong Kong and Singapore.
Richard Wohanka, CEO of UBP's Asset Management division, highlighted the dual benefits of the joint venture. "Asia is increasingly the focus of global growth and of global investing, so we are delighted to join forces with Chung Wei Yi Co Ltd. With our combined investment expertise and shared vision we will be able to provide our global investors with a highly-specialised approach to the opportunities the region presents, and our Asian clients with access to our top-quality investment teams across the world."
About Union Bancaire Privée, UBP SA
Union Bancaire Privée, UBP SA (UBP) is based in Geneva and is one of Switzerland's leading private banks. Active in the field of asset management for both private and institutional clients and with a very solid balance sheet, the Bank had some CHF 60.7 billion (USD 72.1 billion) in assets under management as at 30 June 2011. UBP employs around 1,200 people in some twenty locations worldwide and provides a complete range of products and innovative investment solutions, both in traditional and alternative asset management, with the aim of preserving its clients' capital and attaining their objectives. www.ubp.com
Jérôme Koechlin - Head of Corporate Communications
Emmy Labovitch - Head of Marketing UBP Asset Management