UBS has announced plans to build a family services business to cater to ultra high net worth clients in Asia.
The service will offer family advisory services, wealth planning and global custody. It will be led by Yan Lau, who has been with the bank since 1991.
“The situations of UHNW clients are often quite complex and typically they have businesses across the region,” said Amy Lo, head of UNHW Asia Pacific. “We want to do everything we can to help them develop their business, and monetise and divest their interests.
“The most important issue is the need to protect the family’s wealth. We have also noticed an increasing focus on the issue of legacy. We want to help make sure the proper structure is in place for the control, management and transfer of wealth from one generation to the next. We plan to use our family services unit to put together this kind of holistic solution.”
