UBS launches digital wealth management platform, WE.UBS, in Shenzhen, China

The mobile APP “WE.UBS” combines UBS’s 160 years of wealth management services with the latest technology capabilities. It offers clients an innovative, digital service model with proactive financial planning based on big data and UBS Chief Investment Office (CIO) views. It is highly interactive ­­­where clients can complete on-boarding in a few minutes and enjoy a one-stop service. The platform provides both local and global investment solutions through a robust selection process, dedicated investor education as well as 24-hour tracking based on market developments.

Edmund Koh, President, UBS Asia Pacific said, “China is leading the way in wealth creation and digital transformation globally. As the world’s largest wealth manager, it is our goal to be the leading global wealth manager and the #1 digital-first wealth advisor for our targeted clients in China. "

UBS FS has been established in Shenzhen, the key engine behind the Greater Bay Area (GBA), one of the fastest-growing regions in China. The GBA is supported by favourable policies, greater connectivity and population growth with over 86 million inhabitants and a GDP of RMB12.6 trillion (USD1.9 trillion)¹. Chinese affluent individuals will surpass 56 million in 2022², with a significant proportion of them living in the GBA. Iqbal Khan, President Global Wealth Management of UBS said, "Demand for professional wealth management services, delivered digitally, is growing exponentially in China. Following our launch in Shenzhen, we will focus on clients in the GBA before broadening out to other cities.”

WE.UBS is collaborating with a number of business partners and fund houses to build an ecosystem that helps clients achieve their own and their family’s financial objectives. “This platform goes beyond a financial institution providing a service or a product. Our ecosystem covers the needs of clients in different aspects of their life with tiered offerings based on the client’s relationship with us. This is unique in China,” said Andy Ho, General Manager of UBS FS.

In addition to Andy Ho, the officiating guests at today’s launch ceremony included Jie HE, Director of Shenzhen Municipal Financial Regulatory Bureau; Jean Philippe Praz, Consul General of Switzerland in Guangzhou;  Amy Lo, Co-head, UBS Wealth Management Asia Pacific, UBS Global Wealth Management; Eugene Qian, UBS China Country Head and Chairman of UBS Securities as well as the business partners.

Sources: ¹Government of Guangdong Province, as at end of 2021.² “China Wealth Management: Opportunities and Risks to 2022” (GlobalData) including mass affluent with liquid assets of USD50,000– 1million and high net worth population with over USD1 million.