UBP awaits Singapore banking licence, plans hires
Meanwhile, the Swiss private bank’s strongest Asia client inflows are coming from Greater China, with low-risk, low-volatility products in high demand.
Geneva-based Union Bancaire Privée expects to receive a Singapore banking licence in the first half of this year and is in the process of hiring more staff across its Asian offices in Hong Kong and the Lion City.
Since it started to book assets in Singapore at the beginning of 2012, the private bank has doubled its assets under management – admittedly from a low level – and number of clients from 100 to 200.
UBP also added eight staff during the year to bring its Asia headcount …
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