Bringing you live news and features since 2006 

Union Bancaire Privee completes acquisition of Coutts activities in Asia


Union Bancaire Privée (UBP) completed the transfer of Coutts International's activities in Singapore and Hong Kong on 11 April 2016. 

This is the final stage in the acquisition of Royal Bank of Scotland's international wealth management business which operated under the name Coutts. Its entities in Switzerland, Monaco and the Middle East became part of UBP in October 2015.

To complete this final stage, UBP obtained two licences for its Hong Kong branch: one from the Hong Kong Monetary Authority (HKMA) on 5 February 2016 and one from the Securities and Futures Commission (SFC) on 8 April 2016. Those two licences will enable UBP to offer its range of wealth management services to all its clients in Asia, in addition to its asset management activities.

UBP has long-standing operations in Asia, where it has run asset management activities for over 20 years through several joint ventures, the last of which was set up in Shanghai in January 2015. UBP has operated in Tokyo since 1989, Hong Kong since 1990, and Singapore since 1993 where it also launched its private banking business in 2013.

UBP's assets under management in Asia will now total close to CHF 14 billion, and UBP will employ more than 330 people in Hong Kong, Singapore, Shanghai, Taipei and Tokyo.

Guy de Picciotto, CEO of UBP, says: "We have completed the integration of Coutts businesses in Asia on schedule. This is a significant milestone in our growth strategy. We now have a solid base from which to develop our activities in Asia, with experienced teams and a value proposition that is unique in the region."

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by