Best for discretionary portfolio management in Asia 2023
Union Bancaire Privee
One of Switzerland’s best-capitalized institutions, Union Bancaire Privée, has slowly but surely showcased that leadership in Asia since its regional business was set up in the early 1990s.
The private bank, under the leadership of Asia CEO Mike Blake, runs busy offices in Hong Kong, Singapore, Tokyo, Taipei, Shanghai and, most recently, Hainan. Its European pedigree and regional experience leave it well placed to serve the full range of Greater China markets, southeast Asia and non-resident Indians.
The numbers are impressive. UBP’s wealth and asset management businesses oversee some $27 billion of client wealth. By UBP’s three key metrics, the Asia team is on a roll, with a five-fold rise in operating profits since 2017, an average 12% growth per annum in assets under management since 2016, and an enviable 70% of assets coming from clients who hold more than $10 million with UBP.
Last year was tough. Traditional investment products were hit by interest rate volatility around the globe. This gave UBP an opportunity to increase its focus on foreign exchange by substantially expanding this part of the business.
With higher implied option volatility and rising deposit rates, UBP’s currency team gave priority to bringing FX ideas to non-FX clients at a time of higher borrowing costs.