UBS establishes family office business in Australia
UBS has established a family office business in Australia.
The company announced this week that the new business, the UBS Global Family Office group, would bring together the strength and global reach of its investment bank and wealth management businesses in Australia, to cater to the highly sophisticated and global needs of our family office clients.
It said the business would be staffed by a team of cross-business specialists focused on co-ordinating client needs across regions, business divisions and asset classes.
Commenting on the move, UBS Australia head of wealth management Mike Chisholm said that the company's experience as a wealth manager meant it recognised that family offices were looking beyond the usual investment themes for exclusive opportunities in areas such as private markets and alternative investments, as well as advice on philanthropy.
UBS Australia head of Global Family Office, David Wilson said the company's family office clients in Australia had very similar needs to its institutional and hedge fund clients.
"This offering is designed to utilise the resources across our businesses and to tailor cross-business solutions to cater to the highly sophisticated and global needs of these valued clients," he said.
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