Switzerland's UBS has opened its second ground-floor presence in Asia, focusing on growth in China's domestic wealth management.
Following the opening of a sub-branch in Beijing in October 2014, the new Shanghai branch becomes UBS's second ground-floor presence in the Asia Pacific region and part of the branch network that will underpin UBS's growth in domestic wealth management business in China, according to a press release sent on Thursday.
«Our branch in Shanghai represents the latest step in the expansion of our Mainland presence. While China's economy is undergoing a year of adjustment, we continue to believe in the strong fundamentals of the country's growth story,» said Jürg Zeltner, President Wealth Management, UBS.
Display of Western and Chinese Art
The new Branch is located in the Shanghai landmark, Xintiandi in Huangpu district. A unique feature of the premises is the display of 37 Western and Chinese contemporary art pieces selected from the UBS Art Collection.
