UBS Nets Southeast Asia Wealth Planning Veteran
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UBS Global Wealth Management to bolster Southeast Asia wealth planning capabilities with a 20-year veteran. Michelle Lau will join UBS Global Wealth Management (GWM) as its head of wealth planning, Southeast Asia.
Based in Singapore, Lau will start her new role in the third quarter of 2022.
Lau is a seasoned veteran with 20 years of experience at HSBC Private Bank where she held various roles including APAC regional head of wealth planning. After last spearheading the ultra-high net worth desk at HSBC Singapore, she joined IPG Howden as its Southeast Asia chief executive to oversee the region, together with the Middle East.
Wealth Planning Demand
Private banks continue to focus on enhancing wealth planning capabilities in order to cater to client demands as part of an expected large-scale generational transfer of wealth transfer in Asia expected to total $2.54 trillion by 2030, according to a report by Wealth-X.
We are confident that Lau will elevate our wealth planning offerings to the next level, accelerate our life insurance positioning and continue to develop and build the team to provide holistic coverage on all ‘legacy-related’ topics to our clients, said UBS GWM’s APAC co-head of advisory & sales and client services Dino Rinaldi in the memo.
A spokesperson for the bank confirmed the contents of the memo.
Questions & Answers
Q.When will Michelle Lau begin her new role at UBS Global Wealth Management?
When will Michelle Lau begin her new role at UBS Global Wealth Management?
Michelle Lau is set to start her new position as head of wealth planning, Southeast Asia, in the third quarter of 2022. She will be based in Singapore for this role.
Q.What is the primary reason for private banks enhancing their wealth planning capabilities?
What is the primary reason for private banks enhancing their wealth planning capabilities?
Private banks are enhancing their capabilities to meet client demands, particularly in anticipation of a significant generational wealth transfer in Asia. This transfer is predicted to reach $2.54 trillion by 2030.
Q.What experience does Michelle Lau bring to UBS Global Wealth Management?
What experience does Michelle Lau bring to UBS Global Wealth Management?
Michelle Lau has 20 years of experience, primarily from HSBC Private Bank where she was APAC regional head of wealth planning. Most recently, she was Southeast Asia chief executive at IPG Howden, overseeing Southeast Asia and the Middle East.
Q.What specific areas does UBS expect Michelle Lau to strengthen in wealth planning?
What specific areas does UBS expect Michelle Lau to strengthen in wealth planning?
UBS expects Michelle Lau to enhance wealth planning offerings, accelerate life insurance positioning, and develop the team. This aims to provide clients with comprehensive coverage on all legacy-related topics.
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