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UBS to set up a Wealth Management Advisory Office in Johannesburg, South Africa
UBS announced today that it will open a Wealth Management Advisory Office in Johannesburg, South Africa. This enables the firm to expand its current business and help achieve its goal of becoming one of the leading international financial services providers in South Africa.
Starting in the fourth quarter 2007, UBS Wealth Management South Africa, part of UBS South Africa (Pty) Limited, will offer wealth management services in addition to Investment Banking services already offered.
Globally, UBS is the leading wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers.
Juerg A. Schalch, designated head of UBS Wealth Management South Africa with six employees commented: "UBS is a globally active financial services firm with wealth management as a core business. We therefore target markets with a significant concentration of wealth. South Africa is such a market. The set up of UBS Wealth Management South Africa will bring us even closer to our clients."
The decision to open an advisory office is evidence of UBS's long-term commitment to the South African market.
Today, UBS is a leading investment bank in South Africa with approximately 80 people in Johannesburg.
Dominik von Arx
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