UBS moves to 9 Penang Road

Singapore, 28 April 2021 – UBS moves into its largest Asia Pacific office at 9 Penang Road (9PR). This move brings over 3000 colleagues in wealth management, investment bank and asset management together.

Edmund Koh, UBS APAC President said: ”Asia Pacific started off the year at a record pace, achieving the region’s best-ever first-quarter performance, with profit before tax hitting USD 0.9 billion on the back of strong markets and higher client activity. Asia-Pacific is a key growth area for UBS, and today it contributes 37 per cent of the group’s profit before tax. Singapore is one of our top two wealth management centres in Asia Pacific, the South-east Asian headquarters for our investment bank and our APAC hub for foreign exchange, rates and credit. Our move to our largest Asia Pacific office celebrates many firsts as it is also the home to UBS’s first global Cyber Fusion Center and the APAC headquarters of UBS Evolve Innovation Hub.”

August Hatecke, UBS Country Head Singapore and Co-Head APAC UBS Global Wealth Management said: “In Asia Pacific,Global Wealth Management reported a strong quarter, driven by higher transactional revenues and recurring fee income, and invested assets reached a new record of USD 576 billion. Our move to 9 Penang Road is a testimony of our commitment to Singapore. Talent development has always been important to us, as we nurture a future generation of bankers for Singapore. This is why we have our largest UBS University campus in the region, where some of the firm’s top talent have been groomed. We also launched our inaugural UBS-SUPER program to build a workforce for the future.”

Workplace of the future

Located on approximately 400,000 square feet of prime property in the heart of downtown Singapore, 9PR empowers the bank’s workforce with state-of-the-art resources. To this end, the new headquarters – the largest UBS premise in a single building in APAC – is infused with high-tech enhancements powered by audio-visual, biometric access, mobile applications and other advanced workspace tools.

Among the innovative features at 9PR is UBS’s first global Cyber Fusion Centre, that sets a new standard for the future of cyber resilience and defense globally for UBS and its clients. The Cyber Fusion Centre is a state-of-the-art centre for information security, technology and innovation to mitigate potential risks. Singapore is also the APAC headquarters for “EVOLVE, the Centre for Design Thinking & Innovation” which focuses on enhancing the client experience, generating insights using analytics, and creating new products to meet the evolving needs of clients. Staff also get to enjoy an in-house wellness centre comprising a clinic, gym, café, nursing rooms and a meditation room. 

A seamless client journey

9PR is designed to provide UBS clients with a seamless and productive journey from the moment they arrive at the building. After being greeted by the concierge, client service associates will usher visitors to a dedicated client floor for their meetings. Here, they will be able to take in the latest market views and investment solutions at one of over 22 special lounge areas and meeting suites. The client floor features works from UBS’s global contemporary art collection, which the bank has been accumulating since the 1960s. Meanwhile, an in-house café and an exclusive lounge is available for clients.

Committed to sustainability

Desmond Kuek, Divisional Vice-Chairman, Global Wealth Management & Chair of the APAC Sustainable Finance Network at UBS said: “Sustainability is at the heart of 9PR. Our new headquarters in Singapore empowers our agile workforce with the latest digital innovations. 9PR is the largest LEED Platinum project in South East Asia for interior offices. There are only 14 such buildings certified in Singapore so it is an achievement that we’re very proud of. The building has also been certified Green Mark Platinum by BCA. UBS operations in Singapore are 100% run on renewable energy.”

To encourage clean and energy efficient modes of transport, there are electric vehicle charging stations, priority parking for carpool and green vehicles and bicycle parking spaces available while staff can refresh at shower facilities. UBS will collaborate with our community partner on an urban farming initiative to grow herbs and spices for the staff café. In the café, employees will get to enjoy daily plant-based protein meal options amongst a range of offerings.

UBS in Singapore

Singapore is one of our top two major international booking centers for UBS's wealth management business in the region, the headquarters for UBS's investment banking business in South Asia, and APAC hub for fx,rates and credit.

About UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.

UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14% in Asia Pacific. UBS Group AG employs approximately 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

ENDS

Media contacts:

Julie Yeo, julie.yeo@ubs.com , +65 6495 5332/ +65 9673 4433

Adeline Lee, adeline.lee@ubs.com , +65 6495 8632/ +65 9753 2480