UBP posts strong performance in Asian business

Singapore

UNION Bancaire Privee (UBP) posted a strong set of results in its Asian operations in 2019, thanks to a number of factors, including strong growth in client mandates.

UBP chief executive Guy de Picciotto said the Swiss bank has an "extremely positive and growing business'' in Asia. Assets are understood to have grown significantly since UBP acquired the international wealth management business of the Royal Bank of Scotland in 2015. This involved the transfer of Coutts International's business in Singapore and Hong Kong to UBP, which gave it a foothold in Asia.