UBS Private Bank’s Stealth Decline

Published by Finews.asia – 28th October 2016 

UBS has posted its seventh consecutive quarter of falling income from private banking. The antidote until now has been cost-cutting. Is it enough?

Published by Bloomberg – 25th October 2016 

Julius Baer Group Ltd., DBS Group Holdings Ltd. and LGT Bank are considering bids for ABN Amro Group NV’s private-banking business in Asia, people with knowledge of the matter said.

The banks have expressed interest in the ABN Amro unit and will study more detailed information on its business, according to the people, who asked not to be identified because the process is private. ABN Amro hopes to announce a deal by year-end to minimize uncertainty for its private bankers and clients, the people said.

Published by Wealth Briefing Asia – 21st October 2016

Credit Suisse has appointed Urs Grueter from UBS as its new market group head for Thailand, replacing Christian Senn, who will be taking an extended leave of absence.

Senn, a 27-year veteran of Credit Suisse Private Banking, has led the Thai market since 2014. His recent achievements in that role include launching the onshore wealth management business earlier this year. He plans to return to the bank following a break of up to 12 months starting from the beginning of 2017 to focus on family commitments.

Published by Finews Asia – 14th October 2016

Swiss pure play private bank Julius Baer, which calls Asia its second home, has placed a second SGD-denominated perpetual tier 1 subordinated bond in Singapore.

Last year the Zurich-based private bank, extended its reach in Asia using the Singapore stock exchange to bolster its capital base. According to the bank it was the first foreign bank to issue such a bond directly in Singapore, underlining the importance of Asia as the company’s second home market.