2024-01-22 11:18:09
Also read: Union Bancaire Privée acquires Japanese asset manager
Assets under management stood at 140.0 billion francs at the end of last December, compared to 140.4 billion francs a year earlier. The banking establishment underlines the negative impact of the appreciation of the franc once morest the dollar. Expressed in dollars, assets under management increased by 9.7% to 166.4 billion.
For 2024, general manager Guy de Picciotto, quoted in the press release, expects “a volatile year.” UBP indicates that it has “the solidity necessary to pursue organic and external growth projects”, without giving quantified details.
Also read: Interest rates, a key factor for wealth management in 2023
Questioned by the AWP agency, a spokesperson for the establishment indicated that UBP recruited nearly 200 people last year, particularly in Switzerland and Asia, such as in Singapore. The workforce has also been increased in our other priority markets, namely the Middle East and Luxembourg.
“We are reasonably optimistic. The development is positive for asset management and should continue in the first half of 2024,” adds the spokesperson, highlighting a renewed interest among private clients for investment, particularly in Asia.
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