UBS Global Wealth Management to bolster Southeast Asia wealth planning capabilities with a 20-year veteran, finews.asia learns.
Michelle Lau will join UBS Global Wealth Management (GWM) as its head of wealth planning, Southeast Asia, according to an internal memo seen by finews.asia.
Based in Singapore, Lau will start her new role in the third quarter of 2022.
Lau is a seasoned veteran with 20 years of experience at HSBC Private Bank where she held various roles including APAC regional head of wealth planning. After last spearheading the ultra-high net worth desk at HSBC Singapore, she joined IPG Howden as its Southeast Asia chief executive to oversee the region, together with the Middle East.
Wealth Planning Demand
Private banks continue to focus on enhancing wealth planning capabilities in order to cater to client demands as part of an expected large-scale generational transfer of wealth transfer in Asia expected to total $2.54 trillion by 2030, according to a report by Wealth-X.
«We are confident that [Lau] will elevate our wealth planning offerings to the next level, accelerate our life insurance positioning and continue to develop and build the team to provide holistic coverage on all 'legacy-related' topics to our clients,» said UBS GWM’s APAC co-head of advisory & sales and client services Dino Rinaldi in the memo.
A spokesperson for the bank confirmed the contents of the memo.
