UBS hires Lin-yun Chang to Lead UBS ADVICE, the New Business Unit under Wealth Management
UBS announced today that it has appointed Lin-yun Chang to the newly established role of the Head of UBS ADVICE, Taiwan, effective August 1st, 2014. UBS Advice is a new business under UBS Wealth Management Taiwan.
Dennis Chen, CEO of UBS Wealth Management Taiwan said, "UBS is optimistic about the growth potential of high-end wealth management market in Taiwan, and we will soon introduce UBS ADVICE. the "Non-trust" service to Taiwan". Lin-yun Chang will spearhead the new business unit.
"Chang will bring over his wealthy management expertise in the investment trust industry, and his extensive market experience to his new role to help expand the business of UBS Wealth Management," added Dennis Chen.
According to the 2013 survey by Boston Consulting Group Global Wealth Report 2013, the growth of NHW population in Asia will exceed that of North America by 2017. The statistics fully demonstrates the growth potential of Asia, especially Taiwan. After introducing UBS ADVICE in Singapore and Hong Kong and receiving positive feedbacks, UBS chose Taiwan as the third market for UBS ADVICE. The service will bring more innovative and thoughtful services to High Net Worth (HNW) wealth management clients in Taiwan.
Previously, Lin-yun Chang had led the retail business of Blackrock Asia ex-Japan and Merrill Lynch Investment Managers in Taiwan. He has extensive experience in the field of asset management to help UBS ADVICE build a strong team, and, in turn, help UBS Wealth Management to have a more diversified and promising future.
With UBS ADVICE, UBS will sign an annual contract with the client to determine the expectation of investment return, risk appetite and fee structure. With the client’s authorization, UBS will manage the investment using this innovative platform. UBS ADVICE will base its investment decision on UBS Chief Investment Office house views, analyze the asset allocation and profit/loss condition, and provide the clients with the most updated investment allocation advices.
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its global wealth management businesses and its universal bank in Switzerland. Together with a client-focused Investment Bank and a Global Asset Management business, UBS will expand its wealth management franchise and drive further growth across the Group. UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS employs about 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange.
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