UBS bootcamp

Sipping coffee, a group of advisers to Asia's wealthy sit in pairs in a Hong Kong training room of Swiss bank UBS, trying to solve a riddle.

Reuters reports that each pair of advisers must first imagine that each of the other pairs in the room has chosen a number between 1 and 100, and then guess what number would represent two-thirds of the average for the whole group.

The riddle, presented at a company-run master program, requires guessing what everyone else in the room is thinking, a challenge that mimics the task of understanding market behaviour. That challenge is now key to UBS's efforts to reinvent one of the world's oldest and biggest private banks.

UBS wants its advisers to break from its traditionally passive approach, where they would present clients with a range of investment ideas, and adopt a more active stance by giving them a clear recommendation.

Hit the link below to access the complete Reuters article:

UBS bootcamp readies private bankers for new front in wealth management

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