New UBS branch
Print Edition
UBS (China) Ltd, UBS AG’s wholly owned, locally incorporated bank, yesterday opened its first branch in Shanghai in a bid to tap China’s growing wealth-management market.
Located in Xintiandi in Huangpu District, the new branch is the Swiss bank’s second ground-floor branch in Asia-Pacific after the first in Beijing in 2014.
The branch will provide private banking services to high-net-worth individuals who are seeking to diversify their investment portfolios.
“China will continue to post higher growth than any other comparable global economy, and rapid wealth creation here will present huge growth potential for our wealth-management business,” Jurg Zeltner, president of UBS Wealth Management said in Shanghai yesterday.
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