UBP announces new joint ventures in Asia to spearhead growth of asset management business

This is a significant step forward in UBP's expansion plans in Asia, and follows the company's recent announcements.

By PTI | Updated: Aug 04, 2011, 11.04 AM IST

DUBAI: Geneva-based Union Bancaire Privée ( UBP) has announced setting up of two Asian joint ventures that will spearhead growth of its asset management business in the world's fastest-growing market.

UBP Asset Management (Asia) 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.

The company said that 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 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.

Active in the field of asset management for both private and institutional clients and with a very solid balance sheet, the Bank had some $72.1 billion in assets under management as on 30 June 2011.

It employs around 1,200 people in around 20 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.

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