Winners rationale

Already a wealth management heavyweight in Taiwan and armed with an impressive brand presence among HNWIs that is the envy of the island’s domestic banks, UBS Wealth Management demonstrated in 2017 that growth for the business has not yet plateaued.

Indeed, 2017 was an emphatic growth year for UBS’s Taiwan International business, which registered record net new money inflows and, since 2011, the business has grown at 10% CAGR with its net revenues doubling.

In addition to a revenue base built on a solid foundation of fee-based income, with a double digit client penetration rate into advisory and discretionary mandates, UBS Wealth Management was able to bring its “one-bank” capabilities to its Taiwanese international clients.

Indeed, showcase achievements in 2017 included working with UBS’s investment banking platform to deliver a solution to a client looking to liquidate the family business, working with the asset management arm to enable a Taiwan institutional client to invest in UBS funds, drawing on the bank’s formidable expertise in wealth planning to restructure a client’s trust and refer for a sizeable life insurance, and working with Switzerland colleagues to facilitate cross-booking.

Despite the platform’s stellar capabilities, the success of UBS Wealth Management’s Taiwan International business is underpinned by the continuous development of quality talent. 70% of its relationships managers are seasoned professionals with over ten years of financial experience which reflect the bank’s rich resources.

But more importantly, UBS’s Taiwan business continues to blood new talent, who are supported by a comprehensive range of training programmes. This provides the assistant relationship managers and prospective relationship managers with the skills and knowledge to develop a promising career within the industry.

A deep dedication to new talent has produced impressive results for its Taiwan business. In fact, 30% of the bank’s net new money came from relationship managers that joined in 2016 and 2017.

UBS’s insatiable ambition to not only hold top rank but to widen the gap between its peers through capitalising on its “one-bank” strategy, a strong base of fee-based income and ongoing focus to develop talent played no small part in helping the bank retains its position as the Best Private Bank – Taiwan International.

UBS is Asian Private Banker’s Best Private Bank – Taiwan International for 2017.