Union Bancaire Privée, UBP SA (“UBP”) announced today it has entered into a partnership agreement with a leading asset management team to strengthen its Asian capabilities, and established a new company in Shanghai, “UBP Investment Management (Shanghai) Limited”.
Mr Hong Chen, a leading figure in the Chinese asset management industry and most recently Chief Investment Officer (CIO) of HFT Investment Management, will be the CIO of the new company which aims to provide domestic and international investors with best-in-class Chinese equity and fixed income investment solutions. With over 15 years’ experience managing Chinese equities, he has one of the strongest performance track records in the field.
Nicolas Faller, CEO of UBP’s Institutional Clients division, said: “We are delighted to announce the creation of this new company, which reflects our ability to partner with the best asset managers in order to deliver high-quality investment solutions to our clients. Mr Chen has found in UBP a solid international business partner and we are convinced that, in turn, our global network of clients will benefit greatly from his in-depth expertise.”
The new company demonstrates UBP’s continued ambition to selectively develop its investment capabilities in areas where it is able to deliver significant value to clients by offering them the best investment solutions on the market.
For any further information, please contact Bernard Schuster, Group Head of Communications, tel. +41 58 819 24 70, e-mail bsc@ubp.ch
About Union Bancaire Privée (UBP)
UBP is one of Switzerland’s leading private banks, and is among the best-capitalised, with a Tier 1 ratio of 28%. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs around 1,350 people in some twenty locations worldwide; it held CHF 95 billion (USD 107 billion) in assets under management as at 30 June 2014.