What we said

“For UBS Global Wealth Management’s (UBS GWM) Amy Lo – who has been named as Asian Private Banker’s prestigious Private Banker of the Year for the second time – 2023 arguably presented the biggest challenges and opportunities of what has been an already long and illustrious career in private banking in Asia,” said Daniel Shane, editor of Asian Private Banker.

“As if the re-opening of Hong Kong and mainland Chinese following long-running COVID-19 restrictions – as well as an increasingly complex macro and geopolitical environment – were not enough to deal with, the wealth veteran also had to contend with the shock absorption of historic Swiss rival Credit Suisse.

“The complexities of such a project, which in Asia has created a wealth management behemoth with about US$650 billion in AUM, cannot be underestimated. Challenges haver included tackling overlapping client books and product platforms to addressing potential AUM flight, to managing and optimising an entire new workforce that stretches from Australia to India, and everything in between. But the proof of Lo’s success in overseeing such a momentous transition is demonstrated clearly by the numbers: an incredible US$13.1 billion of net new money in Asia during 3Q2023 alone, including US$4 billion from Credit Suisse clients who just months earlier were more likely to be pulling their money out of that bank.”

“The achievements don’t stop there. Over the last 12 months, UBS has continued to deepen its penetration with Asia-Pacific’s crucial family office clientele, expanded its proposition in key areas like sustainability and alternatives, and significantly enhanced its already market-leading digital proposition.”

“Lo’s commitment to Asia’s private banking industry goes beyond her role at UBS Global Wealth Management. As head of Hong Kong’s Private Wealth Management Association (PWMA), an association whose role is to foster industry development, she has been instrumental in providing guidance and leadership to the city’s private banking sector during one of its most tumultuous periods of recent history – from political turbulence to COVID-19 restrictions. Her success in doing so was made clear in the PWMA’s most recent annual summit in Hong Kong, which brought together hundreds of the city’s top private bankers.”

“For all of these reasons and more, Asian Private Banker is delighted to present Amy Lo with our most highly-coveted accolade – Private Banker of the Year – at the Awards for Distinction 2023.”