\n Union Bancaire Priv\u00e9e (UBP) is a Swiss private bank headquartered in Geneva, specialising in wealth and asset management for private and institutional clients. Founded in 1969 by Edgar de Picciotto and remains family-owned, UBP pairs specialised private banking expertise with an international network of offices and booking centres. Its services span investment management, alternative investments and wealth planning, including support for families whose assets and interests extend across international borders.
\n
\nFor wealthy families across Greater China, that international reach is becoming increasingly valued. Diversification now extends well beyond asset allocation to encompass strategic decisions around multi-jurisdictional booking arrangements, ownership structures and international family support.
\n
\nSpeaking to Hubbis, Teresa Lee, Region Head North Asia and Chief Executive Hong Kong at UBP, highlights how the bank is adapting to these evolving dynamics. She sees clients looking beyond traditional hubs like Hong Kong and Singapore for booking options, reconsidering existing wealth structures and exploring a wider range of investments. Looking ahead, her priorities are to broaden and deepen client relationships across Greater China and provide more coordinated support for clients\u2019 international wealth while building on Hong Kong\u2019s role in connecting clients\u2019 capital with international opportunities.\n <\/p>\n
Key Takeaways<\/p>\n
\n\tDiversification extends beyond portfolios: Clients are increasingly evaluating where assets are booked and how ownership is structured, taking account of family members residing in different jurisdictions.
\n\tInternational booking centres are attracting attention: Lee sees renewed interest in Switzerland, alongside other international booking centres as clients look for options beyond Asia.
\n\tOffshore-trust taxation is changing conversations: Lee highlights increased conversations with Chinese clients as wealth and succession plans are being reviewed in light of the new offshore trust tax rules.
\n\tAlternatives appeal to a broader client base: UBP\u2019s hedge fund offering appeals to sophisticated private clients, external asset managers and non-bank financial institutions.
\n\tGreater China remains a core business priority: Strategic partnerships and enhanced wealth planning capabilities underpin Lee\u2019s growth plans.
\n\tHong Kong\u2019s connectivity is central to growth: The hub\u2019s deep links with mainland China, regional integration and cross-border investment channels continue to reinforce its wealth management role.
<\/p>\n
\u00a0<\/p>\n
A Bank Engineered for Stability, Empowered by Tailored Solutions<\/p>\n
For clients evaluating where to deploy and safeguard their assets, Lee emphasises that UBP\u2019s positioning as a family-owned bank driven by a long-term vision resonates strongly with clients. The bank\u2019s long-term financial strength and a well-integrated global network remain core pillars of UBP\u2019s proposition.<\/p>\n
She highlights the bank\u2019s exceptional capital strength and robust liquidity, underpinned by its Aa2 long-term deposit rating from Moody\u2019s, a Tier 1 capital ratio of 22.5% and a liquidity coverage ratio of 233.8% as of 30 June 2026, following its acquisitions of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s private banking businesses in Switzerland and the United Kingdom. In her view, that resilience matters to families looking for a stable institution through evolving market conditions.<\/p>\n
UBP\u2019s international footprint provides clients with greater flexibility of choice, which is increasingly valued as families become increasingly international in how they live, invest and plan for the future. Operating 12 booking centres globally, UBP can support families with wealth management needs spanning multiple jurisdictions. Lee explains the client demands are typically driven by their families\u2019 geographical distribution, and the preferred governance arrangements for managing their wealth.<\/p>\n
Looking Beyond Asia<\/p>\n
While Hong Kong and Singapore remain as key wealth hubs, Lee observed renewed client interest in Switzerland and other international booking centres. Internationalisation of Asia wealth and an evolving market environment are prompting some families to consider not only diversifying their investments, but also assets across jurisdictions.<\/p>\n
This is a broader discussion than spreading investments between banks. A family may want assets held in different jurisdictions to reflect where its members reside and how it intends to organise ownership over time. The booking location becomes part of that planning, alongside the investment portfolio itself.<\/p>\n
For Lee, the practical value of UBP\u2019s network is its ability to connect those decisions with advisers in the locations concerned. Families spread across borders need local support as well as an overview of their international arrangements.<\/p>\n
New Tax Rules Drive Succession Planning Conversations<\/p>\n
China\u2019s offshore-trust tax rules have brought a more immediate question into clients\u2019 wealth planning discussions. Lee says the new tax rules have triggered an influx of urgent client inquiries, which may turn into other wealth planning opportunities.<\/p>\n
Enhancing liquidity to prepare for potential tax obligations without disrupting existing investment portfolios is a key objective for clients. Looking beyond the short-term impact, Lee also highlights the importance of long-term wealth planning, noting that clients are increasingly interested in engaging in conversations to review their existing succession plans.<\/p>\n
Flagship Hedge Fund Strategy Alongside a Comprehensive Investment Suite<\/p>\n
Investment expertise represents another core component of UBP\u2019s proposition. Lee highlights the institutionalisation of wealth as a key trend in Asia, with clients being more sophisticated in their investment approaches and more receptive to alternative strategies as they seek ways to further diversify their investment portfolios and manage exposure in volatile markets. She highlights the bank\u2019s hedge fund offering and multi-asset solutions as areas of particular strength.<\/p>\n
With over 50 years of experience and track record in hedge fund investment, UBP has established trusted partnership with not only top-tier managers, but also some hidden gems that Asian clients may not be able to easily get access to. Globally, UBP\u2019s global team has 26 specialists dedicated in sourcing, research, due diligence and monitoring different investment styles and asset classes of hedge fund managers.<\/p>\n
In Asia, UBP has seen a 75% growth in hedge fund holdings across its advisory and managed mandates in Asia since 2021. There is also a surging interest in hedge-fund-only mandates, with their share of UBP\u2019s discretionary portfolio management mandates in Asia more than tripling since the end of 2024.<\/p>\n
The appeal extends beyond ultra-high-net-worth individuals. Insurance companies, securities firms, asset management companies and external asset managers also approach UBP for its alternative investments and institutional investment capabilities. These clients bring different requirements, but share an interest in a platform with specialist expertise and a broad range of strategies.<\/p>\n
Lee cites actively managed certificates (AMCs) as one example. Operated through the bank\u2019s Geneva head office, AMCs enable clients to package investment strategies into a single instrument more simply and cost-effectively than setting up a fund.<\/p>\n
She also highlights Singapore\u2019s variable capital company (VCC) structures. UBP offers arrangements involving external asset managers and others managed by the bank on a discretionary basis. Lee says UBP is among the first Swiss private banks to offer VCC structure for clients, further demonstrating its leadership in delivering innovative financial solutions to meet clients\u2019 sophisticated wealth management needs.<\/p>\n
Key Priorities<\/p>\n
Accelerating client acquisition and deepening relationships across Greater China are Lee\u2019s central priorities for the next 12 to 18 months. Forming strategic partnerships and collaborating with ecosystem partners and key industry associations offers a direct pathway to expanding UBP\u2019s reach and enhancing the brand\u2019s visibility across the region.<\/p>\n
Positioning the organisation for future growth requires continuous modernisation of its technology infrastructure. Lee says the bank has introduced smart know-your-customer tools to support onboarding, name screening and periodic reviews, alongside an in-house artificial intelligence assistant for staff. Looking ahead, the bank continues to harness technology and artificial intelligence to enhance operational efficiency. Its digital priorities include further advancing the data analytics capabilities to deliver in-depth insights for clients, and expanding the digital platforms to provide seamless and intuitive user experiences.<\/p>\n
Into the Future<\/p>\n
Hong Kong Remains a Strategic Gateway<\/p>\n
Lee expects Hong Kong to remain an important global hub for wealth management, as the city\u2019s First Five-Year Plan for 2026\u20132030 aims to further strengthen its role as a comprehensive cross-border wealth management platform.<\/p>\n
Hong Kong has long served as a \u201csuperconnector\u201d bridging mainland China, Asia and global capital. Lee expects this role to evolve beyond geographical connectivity, with Hong Kong increasingly serving as a key platform for connecting businesses, talents, technology and opportunities across markets.<\/p>\n
She sees efforts to attract mainland and international capital and family offices, strengthen connections between mainland and global markets, enhance tax regimes, and combine innovation with robust regulation and risk controls.<\/p>\n
For wealth management, she believes the opportunity is substantial, but also points out that the increasingly competitive environment will favour institutions that can combine investment expertise, cross-border connectivity, family office capabilities, digital finance and trusted governance.<\/p>\n
Getting Personal with Teresa Lee<\/p>\n
Lee\u2019s early ambition was to become a pianist. She began playing at the age of five, and gained many years of experience accompanying choirs, ballet, professional singers and church performances. She later chose to study business in Australia and pursue her career in banking.<\/p>\n
The transition from music to business taught her to remain open to change and to approach unfamiliar situations with curiosity. She has also identified an early-career mentor as an important influence in encouraging her to step out of her comfort zone.<\/p>\n
Lee said her musical training developed qualities that continue to inform her leadership approach, including discipline, resilience, attentive listening and a commitment to excellence. Her experience of performing with and accompanying others also reinforced the importance of collaboration, recognising individual strengths and working towards a shared objective.<\/p>\n
Her banking career took her through leading international banks before UBP. She values the continuous learning and the opportunity to meet people from different industries, experiences that she believes a career in music would not have offered in the same way.<\/p>\n
Lee describes the opportunity at UBP as one that allows her to develop the business with autonomy, supported by an entrepreneurial culture and openness to new ideas, which she sees as important attractions of the role.<\/p>\n
At the time of the interview, she was preparing to join fellow members of Women Chief Executives Hong Kong in a charity run. The network brings together female leaders from major financial institutions in Hong Kong, who are united by a shared commitment to diversity, inclusion and the city\u2019s continued development as an International Financial Centre.<\/p>\n
Her advice to her younger self is to trust your convictions, embrace continuous learning and remain optimistic about the future. \u201cStay confident, stay curious and stay positive,\u201d she says.<\/p>\n","protected":false},"excerpt":{"rendered":"Union Bancaire Priv\u00e9e (UBP) is a Swiss private bank headquartered in Geneva, specialising in wealth and asset management…\n","protected":false},"author":2,"featured_media":660526,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":["post-660525","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=660525"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/660526"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=660525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=660525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=660525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}