UBS Kowloon office opens for business, adds another floor
Hong Kong, 28 April 2016 – UBS today opened a new office at One Peking Road in Kowloon, Hong Kong to provide wealth management services to entrepreneurs and other client segments in Kowloon and the New Territories.
With an expected 100-strong team by year-end at UBS's first office based outside Hong Kong's Central Business District, the firm recently leased a further floor of the new premises, which will have a total gross floor area of 36,000 sq. ft.
"This is another milestone for us in Greater China after the opening of the Shanghai branch last month," said Edmund Koh, Head of Wealth Management, Asia Pacific.
"The Kowloon office will be a platform from which we can better serve the domestic market particularly the first and second-generation entrepreneurs who have always been a key client segment for us. Our integrated bank offering, with its holistic range of products and services, is well-placed to serve their personal, family and business needs," he added.
Among the services provided is the 'Lifestyle Preservation' offering, which helps clients plan ahead and structure their assets to fund their retirement.
"We want to be where our clients are located today and in the future," said Amy Lo, Head of Wealth Management Greater China and Country Head of UBS Hong Kong. "Entrepreneurs living in Kowloon and in the New Territories present huge growth opportunities for us and we are determined to maintain our status as the 'Bank for Entrepreneurs'."
On display at One Peking Road will be 30 international contemporary art pieces selected from the UBS Art Collection.
UBS Wealth Management is the largest wealth manager in Asia Pacific with CHF 272 billion under management as of 31 December 2015. Hong Kong is one of the most important regional hubs for its wealth management business, with around 400 client advisors.
For more details: www.ubs.com/Kowloon
UBS is committed to providing wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland, with superior financial advice and solutions while generating attractive and sustainable returns for shareholders. Its strategy centers on its Wealth Management and Wealth Management Americas businesses and its leading universal bank in Switzerland, complemented by its Asset Management business and its Investment Bank. These businesses share three key characteristics: they benefit from a strong competitive position in their targeted markets, are capital-efficient, and offer a superior structural growth and profitability outlook. UBS’s strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates. Capital strength is the foundation of its success.
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 Group AG employs about 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
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