Shenzhen, October 11, 2021 — UBS AG's wholly owned UBS Qianhai Wealth Management Company Limited ("UBS Qianhai") today announced that it has received a funds distribution license from the Shenzhen Bureau of China Securities Regulatory Committee (CSRC).
Edmund Koh, President, UBS Asia Pacific said, “China is a key market for UBS. The further opening up of the financial market and the growth of the Greater Bay Area present excellent opportunities for us. As the world’s largest wealth manager, we are committed to offering professional wealth management services and investor education in China, contributing to the healthy development of the Chinese financial market."
Amy Lo, Co-head, UBS Wealth Management Asia Pacific said, "UBS was the first international wealth manager to establish a presence in Qianhai, Shenzhen. We would like to thank CSRC and its Shenzhen Bureau, the Shenzhen municipal government as well as the Qianhai Authority for their strong support. We will increase our investment in the Greater Bay Area in support of Shenzhen-Hong Kong collaboration.”
Andy Ho, Head of UBS Qianhai said, “The development of the Greater Bay Area forms a significant component of China’s national strategy. Shenzhen is the key engine behind such development and also one of the most important bases incubating fintech. Against this backdrop, UBS Qianhai hopes to launch unique wealth management experiences to clients, leveraging the Greater Bay Area’s strength and opportunities.”
The Greater Bay Area is home to over 86 million people and is projected to overtake other world-class bay areas by 2025 based on the projected GDP growth forecast of 5%–7% annually1.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS is the largest truly global wealth manager, and a leading personal and corporate bank in Switzerland, with a large-scale and diversified global asset manager and a focused 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 more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
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