UBS chief targets Asia for wealth management growth

Hong Kong

UBS, the world's biggest wealth manager, expects Asia Pacific assets to account for as much as 30% of the funds it oversees within the next 10 years, the bank's chief executive said.

Reuters reports that UBS's wealth management business looked after about $2.04tril in invested assets at end-2014, half of which in the Americas, according to bank filings.

'I wouldn't be surprised if the Asia business is closer to 30% (of the bank's total managed assets) than the 10% it is today', Chief Executive Sergio Ermotti told Reuters in a recent interview.

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UBS targets Asia for wealth management growth - chief executive

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