UBS eyes Asia for most new family-office clients

Reuters pix.

ZURICH: UBS Group AG expects most new family-office clients to come from Asia as global banking rivals compete to manage funds and broker deals for the world’s wealthiest clans.

“The number of family offices being set up in Asia far outpaces the rest of the world,” Anurag Mahesh, head of the bank’s family-office operations in Asia, said in an interview. “Wealth here is getting more and more sophisticated and being created at a rather unprecedented pace.”