UBS : launches digital wealth management platform, WE.UBS, in Shenzhen, China

UBS launches digital wealth management platform, WE.UBS, in Shenzhen, China

Shenzhen26 ott 2022, 08:00Media Releases APAC

Shenzhen, 26 October 2022 - UBS AG's wholly owned UBS Fund Distribution (Shenzhen) Company Limited ("UBS FS") announced the official launch of "WE.UBS", a digital-led platform offering wealth management services to affluent clients in China at a ceremony held today in Shenzhen, China. It is the first digital wealth management platform in Asia Pacific under UBS and the first digital-led wealth management platform launched by a global wealth manager in China.

The mobile APP "WE.UBS" combines UBS's 160 years of wealth management services with the latest technology capabilities. It offers clients an innovative, digital service model with proactive financial planning based on big data and UBS Chief Investment Office (CIO) views. It is highly interactive ­­­where clients can complete on-boarding in a few minutes and enjoy a one-stop service. The platform provides both local and global investment solutions through a robust selection process, dedicated investor education as well as 24-hour tracking based on market developments.

Edmund Koh, President, UBS Asia Pacific said, "China is leading the way in wealth creation and digital transformation globally. As the world's largest wealth manager, it is our goal to be the leading global wealth manager and the #1 digital-first wealth advisor for our targeted clients in China. "

UBS FS has been established in Shenzhen, the key engine behind the Greater Bay Area (GBA), one of the fastest-growing regions in China. The GBA is supported by favourable policies, greater connectivity and population growth with over 86 million inhabitants and a GDP of RMB12.6 trillion (USD1.9 trillion)¹. Chinese affluent individuals will surpass 56 million in 2022², with a significant proportion of them living in the GBA. Iqbal Khan, President Global Wealth Management of UBS said, "Demand for professional wealth management services, delivered digitally, is growing exponentially in China. Following our launch in Shenzhen, we will focus on clients in the GBA before broadening out to other cities."

WE.UBS is collaborating with a number of business partners and fund houses to build an ecosystem that helps clients achieve their own and their family's financial objectives. "This platform goes beyond a financial institution providing a service or a product. Our ecosystem covers the needs of clients in different aspects of their life with tiered offerings based on the client's relationship with us. This is unique in China," said Andy Ho, General Manager of UBS FS.

In addition to Andy Ho, the officiating guests at today's launch ceremony included Jie HE, Director of Shenzhen Municipal Financial Regulatory Bureau; Jean Philippe Praz, Consul General of Switzerland in
Guangzhou; Amy Lo, Co-head, UBS Wealth Management Asia Pacific, UBS Global Wealth Management; Eugene Qian, UBS China Country Head and Chairman of UBS Securities as well as the business partners.

Sources: ¹Government of Guangdong Province, as at end of 2021.² "China Wealth Management: Opportunities and Risks to 2022" (GlobalData) including mass affluent with liquid assets of USD50,000- 1million and high net worth population with over USD1 million.

Background information:

About WE.UBS

Information on WE.UBS	Information on WE.UBS	Details	Details
Information on WE.UBS	Company background	Details	WE.UBS, the digital-led platform offering wealth management services is launched by UBS AG's wholly owned UBS Fund Distribution (Shenzhen) Company Limited ("UBS FS"); UBS FS is the first international wealth manager establised in Qianhai, Shenzhen.
Information on WE.UBS	Vision	Details	Be the #1 digital-first wealth advisor for our targeted clients in China
Information on WE.UBS	Team	Details	About 60% of employees hold a master's degree or above, the average age: 33.5 years' old; The management has an average of more than 20 years of rich experience in the financial industry; 70% have the working experience in FinTech
Information on WE.UBS	Uniqueness	Details	WE.UBS combines UBS's 160 years of wealth management services with the latest technology capabilities, offering comprehensive investment solutions that cover the needs of clients in different aspects of their life. Professional team - connecting the world's major financial centers; leveraging the global perspective of more than 200 investment research experts Integrated solutions - integrating multiple indicators and quantitative models with in-depth analysis by experienced analysts Real-time response - 24-hour tracking of macro-economic trends; rapid response to market changes
Information on WE.UBS	Collaborative fund houses	Details	UBS SDIC Fund Mangement Company Limited Invesco Great Wall Fund Mangement Company Limited HSBC Jintrust Fund Mangement Company Limited
Information on WE.UBS	Technology partners	Details	Tencent Cloud Computing (Beijing) Company Limited Shenzhen Kingdom Technology CO.,LTD
Information on WE.UBS	Website	Details	www.weubs.com.cn

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