SINGAPORE (March 15): UBS Wealth Management has set up new department called the Resident Foreigner Team to cater to what the bank calls the “underserved” yet growing population of foreign residents in Singapore. Services provided by this team include planning for children's education and saving for retirement.
“We see tremendous potential for this client segment and this is a great opportunity for us to further accelerate the growth of our footprint in this important market," says August Hatecke, head of UBS Wealth Management South East Asia.
This team is headed by Sean Straton, previously Credit Suisse’s team leader for Indonesia.
As the wealth management firm in the world, UBS Wealth Management in Asia Pacific has more than 1,000 relationship managers in this region and some 292 billion Swiss francs ($409 billion) in assets under management.
UBS sets up Resident Foreigner Team for “underserved” market
Tags: UBS Wealth Management - Resident Foreigner Team - August Hatecke - UBS Wealth Management South East Asia - Sean Straton
To continue reading,
Sign in to access this Premium article.
Subscription entitlements:
Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories
- Build a robust portfolio that can grow regardless where the economy is heading: UBS
- Singapore well-positioned to lead Asia sustainability push: UBS's Kuek
- Bulging with AUM and earnings, UBS eschews cryptos even as other banks jump in