UBS global wealth APAC division sets record with over $400bn in assets

UBS' invested assets at its wealth management division in Asia-Pacific hit $405bn in the first quarter of 2019, said the world's largest private bank. UBS further saw strong growth with record net new money inflows of $16.3bn in the first quarter of the year, almost triple the $6.3bn during the same period in 2018.  UBS wants to use this momentum to push forward in the region as it plans to reinforce its leading position by targeting China, Japan and Taiwan, along with its regional management centers in Singapore and Hong Kong. According to the 2018 UBS PwC Billionaire report, the Asi...