UBS Wealth to provide specialised financial services to foreign residents in Singapore

UBS Wealth Management has established a new service to provide tailored financial services to cater to the increasing demand for a seamless international banking experience by foreigners residing in Singapore.

Its new Resident Foreigner Team will offer "a unique client experience through cultural synergies and financial solutions tailored to the needs and preferences of foreign residents in Singapore", the bank said on Wednesday.

"We have had requests over the years to provide specialised financial services to foreign residents in Singapore and this new service gives us the ability to provide a seamless banking experience whether they bank in Singapore or their next home. We see tremendous potential for this client segment and this is a great opportunity for us to further accelerate the growth of our footprint in this important market," August Hatecke, Head UBS Wealth Management South East Asia, said.

The Resident Foreigner Team - headed by Sean Straton - will work closely with high net worth clients who demand access to a global platform with a comprehensive range of financial and investment solutions, including planning for children's education and saving for retirement, key concerns for foreign residents in Singapore.

Mr Straton was previously from Credit Suisse where he was the Team Leader for the Indonesian market. Before that, he was Head of Westpac Private Bank, Singapore. He reports to Eddie Gan, Managing Director, Market Head, Singapore, UBS Wealth Management.

UBS Wealth Management boasts of CHF 292 billion (S$409 billion) in assets under management and more than 1,000 client advisors in Asia Pacific.