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Source: www.ubs.com |
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UBS draws Asia¡¯s best with
opening of Wealth Management Campus in Singapore |
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UBS today (13 Apr 2007) officially opened
the UBS Wealth Management Campus ¨C Asia Pacific (UBS WM Campus ¨C APAC)
in Singapore. The move underpins UBS¡¯s commitment to nurture and groom
the best talent in Asia and is pivotal to UBS¡¯s growth strategy in the
region. |
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The Campus was opened by LIM Hng Kiang, Minister of Trade &
Industry and Deputy Chairman of the Monetary Authority of Singapore. |
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¡°UBS¡¯s continued leadership in the global
wealth management business can, to a large degree, be attributed to its
long-standing commitment to developing a deep bench of high calibre
bankers who understand client needs. I am confident that the UBS Wealth
Management Campus will continue that tradition by creating a pool of
talent to meet the demands brought about by the tremendous growth in the
wealth management industry in Asia Pacific,¡± said Peter WUFFLI, Chief
Executive Officer of UBS AG who was present at the ceremony. |
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The establishment of the UBS WM Campus -
APAC reflects the rising importance of the wealth management business in
Asia Pacific. |
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According to UBS¡¯s estimates, liquid assets
held by wealthy individuals in the region (excluding Japan), will grow
by 9.7% annually until 2009, compared to less than 6% globally over the
same period. From 2004 to 2006, UBS¡¯s Wealth Management business in Asia
Pacific doubled its invested assets to CHF 151 billion. This equals a
compounded yearly growth rate for this period of 37%. |
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¡°The Campus will be a centre of excellence
for development programmes targeted at employees and clients in the Asia
Pacific region. More importantly, it will also serve as a hothouse for
wealth management research and thought leadership in new wealth
management initiatives,¡± said Kathryn SHIH, Head of UBS Wealth
Management in Asia Pacific. |
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Situated at the historic Command House at 17
Kheam Hock Road, the Campus is in line with Singapore¡¯s efforts to
develop as a centre for wealth management. |
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¡°We believe this Campus dovetails with
Singapore¡¯s efforts to develop as a premier wealth management hub. It
will certainly be a beneficiary of Singapore¡¯s large pool of
highly-educated talent, a robust financial services sector, an open
regulatory environment and the Monetary Authority of Singapore¡¯s support
for such vocational education initiatives,¡± added Shih. |
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Training will be delivered by more than 200
experienced practitioners from UBS¡¯s operations globally. |
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Equipped with state-of-the art
facilities, including a lecture hall with video conference
facilities and voice activated cameras, five seminar rooms, a
media lab for business technology training, networking and
administrative areas, UBS expects to train approximately 5,000
existing and future UBS Wealth Management staff by 2010. |
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The Singapore model will form the base
of all UBS¡¯s Asia Pacific Wealth Management training and UBS will
adopt the Singapore Institute of Banking and Finance¡¯s Financial
Industry Competency Standards (FICS) regionally for Wealth
Management staff certification where appropriate. |
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The Campus will also be a resource for
clients. ¡°Developing courses for our clients is a reflection of
UBS¡¯s commitment to meeting the rising demand for premium
financial solutions. Our clients¡¯ needs are diverse and evolving,
and our courses aim to enable them to remain the best-informed
investors in this fast-growing and changing industry,¡± added Shih. |
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Source: www.ubs.com
Media Release 13 Apr 2007 |
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FrontPage Edition: Thu 19 April 2007
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