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UBS announces the opening of wealth management office in Israel, combining domestic and global investments under one roof

Tel Aviv Media Releases EMEA


New services offered by UBS Wealth Management Israel include:
Shekel investments, local investment team and financial planners, creation of local and global investment portfolios and consolidated reporting on all investments in a single report

The Swiss financial services giant, UBS, today announced at a press conference in Tel Aviv, the opening of wealth management investment house in Israel, which for the first time, will offer clients domestic and international investment management under a single roof.

Kaspar Villiger, Chairman of UBS AG, and Kobi Faigenbaum. CEO, UBS Wealth Management Israel, today launched the new, unique services which UBS will offer its clients in Israel. They also unveiled the reasons behind the decision of the world's second-largest bank to choose Israel as a strategic destination.

The newly-opened UBS Wealth Management Investment House is the first time that a foreign bank is offering shekel investment management for its clients in Israel by a local, Hebrew-speaking team, alongside management of overseas investments. UBS clients stand to benefit from comprehensive investment management, financial planning of the family wealth and succession planning, as well as from a broad range of additional services which will be customized to their specific needs. All services will be provided by a local team of Hebrew-speaking experts.

The choice of Israel as a strategic market followed on an in-depth research undertaken by UBS. The research revealed that Israel is one of the three leading countries out of selected growth markets in terms of personal wealth growth and the attractiveness of the market for developing wealth management operations. In this research, Israel, which is ranked alongside Brazil and Russia, preceded countries like Mexico, Turkey and one of the major Gulf countries in terms of market attractiveness.

Some of the factors that enhanced Israel's attractiveness include the growth of personal wealth, the growth of new wealth, the fast GDP growth, the entrepreneurial and innovation characteristics of the market, the developed regulation of the capital market, the existence of policy that encourages the entry of foreign investment players, and most importantly, the absence of sufficiently comprehensive wealth management services for the wealthy individuals.

The launch of the new services follows preparatory work undertaken over the past year, including the establishment of investment products and services operations, headed by Kobi Feller; expansion of the UBS AG, Media Relations, 21 February 2012 Page 2 of 3 Israeli team with newly-recruited economists, analysts, portfolio managers, financial planners, and marketing and support personnel, and the adaptation of UBS work methodology for Israeli clients.

The Shekel investments, which include funds, equities, structured products, and more, are made as part of an open architecture model which ensures complete transparency and objectivity in matching the financial products to the client. UBS' investment experts recommend local third-party products, which means they are guided solely by the client's interests.

Patrick Müller, Head Israel & Africa, UBS AG said, "The needs and expectations of wealthy people have changed considerably in the wake of the global economic crisis. In launching the new services in the Israeli office, UBS is introducing a new approach, enabling local management of global investments concurrently with professional planning of an investment mix that combines exposure to the Israeli market and global investments. The professional team and the unique services offered in Israel reflect UBS' true commitment to the Israeli market and
clients who helped us develop these solutions in the course of the past two years from a vision to an offering of innovative services for our clients.

Kobi Faigenbaum, CEO UBS Wealth Management Israel said, "Two years ago, UBS took the decision to invest significant resources in expanding the wealth management operations in several countries highlighted as strategic destinations for UBS. A research held by the Bank and focused on six countries boasting impressive growth, Israel included, revealed the astonishing figure that the Israeli public possesses more wealth than Mexico or the Gulf countries. In fact, the scope of the wealth is similar to that of Brazil or Russia. Accordingly, Israel was highlighted as a central target for UBS for the coming years and we embarked on establishing the innovative structure we are launching today. From a small representation office, UBS Wealth Management Israel was transformed into an investment house with large, professional team and exclusive offering of shekel and international investment on a global level, accompanied by financial planning in Hebrew. Faigenbaum added, "In making this huge investment in Israel, UBS is acting on a vision of becoming one of Israel's most prominent wealth management investment houses with a few years' time."

The main services offered by UBS Wealth Management Israel include:

  • One-stop shop for all investments – worldwide and in Israel UBS aims to offer a unique service it believes to be missing in the market. Comprehensive financial and investment services of both Israeli shekel investments as well as global investments under one roof. UBS is the first of the foreign banks with operations in Israel to offer investment portfolios in the local currency, including funds, equities and structured products alongside international investments. The investment team in Israel takes the daily investment decisions and executes them through the Israeli banks.
    All of UBS experts in Israel are extensively experienced in local investments and financial planning. The local investment team relies on the global capabilities of UBS, which consists of hundreds of analysts and economists worldwide, all of whom are commissioned with identifying investment opportunities and assessing risks for UBS clients.
    UBS is also introducing in Israel a unique risk management model for the shekel portfolios, providing clients with utmost flexibility in investment management.
    Client can decide to what extent they would like to be involved in the daily investment management. The experts of UBS Wealth Management Israel fully manage the investment portfolios or help plan and support experienced investors who would like to take the investment decisions on their own. A combination of both approaches is possible too.
  • Open architecture
    The investment team in Israel selects and offers the best financial products available on the market. It does so with complete objectivity and transparency and is guided exclusively by the client's needs. The financial planning behind the selection of third-party investment product is carried out with only the client's interests in mind. UBS has no shekel investment products.
  • Only at UBS – consolidated reporting of local and international assets
    A single, consolidated report covers the client's local and global investments in its entirety to provide a holistic view of asset and investment position.
  • Additional, custom-tailored services
    The team at UBS Wealth Management Israel specializes in planning and assisting clients with a range of additional, valuable wealth management services, including philanthropy, mergers and acquisitions, financial planning, and succession planning and developing the next generation. These services are designed according to the specific personal, business and family needs of the client.



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About UBS
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 pre-eminent global wealth management businesses and its universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will drive further growth and expand its premier wealth management franchise.

UBS is present in all major financial centers worldwide. It has offices in 57 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 65,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

In Israel, UBS is the oldest foreign stock exchange member. The bank started its activities in Israel in 1996 and in 1997 it was accepted as a member of the stock exchange. Today UBS's operations in Israel are diverse and include investment banking, Wealth Management, underwriting, mergers and acquisitions and market making in bonds.