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UBS Targets Top 250 Clients

Monday, October 04, 2010 - 05:09

UBS has formed a global family office group to target their 250 richest clients. Global Head of Ultra-High Net Worth Joseph Stadler discusses the strategy behind this new approach.

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super rich has never being -- set. UBS is forming a new global family office says they -- the bank's 250. Richest clients. I'm joined now from Geneva by UBS is global head of ultra high net worth just Stadler mr. Stadler thanks very much for being with us and now this new family office you'll setting up its about 2% to thirty BS and that -- get significant value so that you were able to extract value for shelves as well. I -- an example which is close to deal last week but that's financing of about one point inflows maybe is these -- for you this year. We had -- positive inflows into long we have positive influence in Q2. Unfortunately. I'm not in position to if you numbers before 26 of October but Competition among wealth manages to the super rich has never being -- set. UBS is forming a new global family office says they -- the bank's 250. Richest clients. I'm joined now from Geneva by UBS is global head of ultra high net worth just Stadler mr. Stadler thanks very much for being with us and now this new family office you'll setting up its about 2% to thirty BS and group that -- nice. I would imagine that represented a far higher proportion the profits that you're generating -- the that the group. Europe suitor right the two -- fifty clients represented about 2%. These clients will be. Jointly called for by the investment bank and by wealth management these things. And as a result swivel played while bank model and extract. Significant value out of that -- venture. Now to give you specific revenue numbers unfortunately I'm not a position to do so. The guys that. So so no specific revenue numbers. -- of terrorism and if if there's this 2% were say 10% to the end of the profitable revenue thanks. I mean it's -- statements that this business mobile. Will allow us to extract. A couple hundred millions of additional revenues going forward OK all right well well well I mean what kind of product CU and strategies he's suggesting that that the clients invested in the and that -- get significant value so that you were able to extract value for shelves as well. I -- an example which is close to deal last week but that's financing of about one point five billion -- climbed over. Private client. What's originated out of wealth management. Then handed over to the investment banks and executed enclosed. These article mentioned we're talking about five working together in closer and more constructive -- OK and so these these it. Products and strategies he sailed -- model. Makes you particularly well suited to it to the CDs one of the client saying what tonight -- about the mobile. They like about being -- the Colbert. He did the problem is that in the past you know there was societal thinking that's not only unique to UBS that goes across the competition. But clients had multiple touch finds an entry points into the bank -- but there was a lack of coordination ongoing. Sometimes it is detrimental effects so what we tried to do was the wrong thing. With this global federal office a unit is to have teams around clients. And don't lose 22 Colbert those clients in a more coordinated fashion than before -- foreign instead I mean it. It seems that this approach is suddenly started to to turn around the the cash outflows and renew the the smallest quarterly outflow of cash in seed since she started losing money and in 2000 nice added that out of this business you you seem to the -- that. Do you think this says signals a return to posted inflows maybe is these -- for you this year. We had -- positive inflows into long we have positive influence in Q2. Unfortunately. I'm not in position to if you numbers before 26 of October but we have confidence to meet our ambitions by -- okay. What's the what's the outlook for a progressed much easier -- let's talk about until. Our gross martians have been where they are have been negatively affected a little bit by. Eight cash portion that has been growing recently due to do idle facility in the market's uncertainty. On the -- the weakening of the caller. And hence the marches on cash of course went on. It's sporadically -- this shouldn't be a problem. For the future. Okay I mean I Asia overseas that is a place that that everybody looking out. Andy with the fastest growing number of millionaires -- citrus citrus such an annual planning ties to me like 400 new staff for the region. What are -- growth plans. Put -- China recycling dollar plans a couple that with -- There's any right -- the market for talent ongoing right now we are effective but we also iron from other places from competitors. Where internally hiring from other. Angles of the firm. I'm real bringing new talent that we can and because we understand that this is the most important source of growth going forward okay. And funny looking at this patient this in Europe tried -- and a lot of -- A lot of speculation is Singapore it if it's not yet taken the crown for switch from Switzerland it's probably -- in terms of via the wealth management business what's you'll be. I can speak for -- China for segment and they're the fault line is that's. All of China Chris -- or individuals that tends to be globally diversified and the outcomes of bilateral discussions. Will not affect. The assets slow significantly. In one or the other direction and Norton global diversified vacation it is -- that. Thanks very much for sadly we appreciate your time that was a UBS has -- established in Geneva.

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UBS Targets Top 250 Clients

Monday, October 04, 2010 - 05:09