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UBP completes Coutts purchase, may expand through JVs

But it will pause for now to integrate systems, bankers and culture, says CEO

Genevieve Cua

Published Wed, Apr 13, 2016 · 09:50 PM

Singapore

UNION Bancaire Privee (UBP) may explore joint ventures to fuel further expansion in the private banking and institutional asset management space, but it has pressed the "pause" button for now on acquisitions.

On Wednesday, Swiss bank UBP marked the completion of its acquisition of Coutts International. The group has assets under management of 130 billion Swiss francs (S$182.5 billion), of which Asia accounts for 14 billion Swiss francs.

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