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UBS expands its wealth management services in Taiwan
UBS Wealth Management announces the official opening of two bank branches in Taichung and Kaohsiung.
"UBS is pleased to have been granted two branch licenses at the same time in Taiwan and it's testament to UBS's high quality service and product offering," says Rory TAPNER, Chairman and CEO, Asia Pacific, UBS.
"Both cities are key hubs for southern and central Taiwan and these two new branches are strategically located to provide the high level of service that clients have come to expect from UBS Wealth Management." said Kathryn SHIH, Head of UBS Wealth Management, Asia Pacific. "While offering a suitably confidential environment we will also be able to host financial seminars and educational programs, which are equally important when it comes to understanding and managing wealth."
Kaohsiung is the second largest city by area in Taiwan with a GDP of US$23 billion¹ . It is also home to the biggest commercial harbor in Taiwan. Taichung is one of the island's main economic centers with a GDP of US$15 billion and acts as a commercial, distribution and government hub of Central Taiwan.
"We will have dedicated teams in place who understand the needs of the regions' entrepreneurs and who will be well positioned to provide the value-add advisory services they need," added Kathryn.
UBS established its Wealth Management business in Taipei in 2000. And with its additional two new branches UBS expects to increase its market share of the high net worth individuals and key client wealth pool to over 10% in the next few years. "We are also looking to further expand our wealth management services to other cities in Taiwan, with a view to delivering UBS's unique client advisory service to the wealthy population across the country." concluded Kathryn.
UBS is a leading global wealth manager in Asia Pacific. Its invested assets in Asia as at end of 2007 was over CHF 200 billion, representing a compound annual growth rate of 21% from end of year 2000 (measured in CHF).
¹ Directorate-general of Budget, Accounting and Statistics, Executive Yuan, ROC
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