UBS launches digital wealth management platform in China | Job Binary


UBS Fund Distribution (Shenzhen) (UBS FS), a wholly-owned subsidiary of UBS, has announced the launch of the WE.UBS mobile wealth management app in the Greater Bay Area (GBA).

The app targets the country’s affluent population, in other words investors with investable assets of $150,000 or more.

“This platform goes beyond a financial institution offering a service or product. Our ecosystem covers the needs of customers in various aspects of their lives with tiered offerings based on the customer’s relationship with us. This is unique in China,” said Andy Ho, general manager of UBS FS.

The mobile application provides local and global investment product selection process, investor education as well as 24/7 monitoring based on market changes, UBS said.

UBS is partnering with three joint ventures on the initiative – UBS SDIC Fund Management, Invesco Great Wall Fund Management and HSBC Jintrust Fund Management.

It is the first digital wealth management platform in Asia Pacific under UBS and the first digital managed wealth management platform launched by a global wealth manager in China.

According to global data, Chinese affluent individuals will exceed 56 million in 2022, with a significant proportion residing in the GBA.

“Demand for digitally delivered professional wealth management services is growing exponentially in China. After the launch in Shenzhen, we will focus on clients in GBA before expanding to other cities,” said Iqbal Khan, president of global wealth management at UBS.

UBS FS, formerly UBS Qianhai, was established in 2018, and its core operations are wealth management consulting, asset management and accounting software development.

It received a fund distribution license from the Shenzhen branch of the China Securities Regulatory Commission in October last year and has an authorized capital of 206 million yuan ($31.9 million).



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