Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a727176

UBS plans to launch South West hub

by David Campbell on Jan 10, 2014 at 10:29

UBS plans to launch South West hub

UBS is set to expand its presence in the South West with plans to launch an office in the region.

The wealth management division’s team of private client specialists currently services the South West from its London office.

Nick Tucker, UBS UK managing director and head of domestic wealth management, said plans were at an early stage, with the company considering office space between ‘Bristol and Hampshire’.

He added the company will recruit additional staff in the region.

‘The dislocation within the industry [since the launch of the retail distribution review (RDR)] means that there are quality teams looking for new homes.

‘RDR created a lot of change and in particular created a greater cost of business. Not everyone has majored on advice, which has led to real scope for competition [for new business].’

Regional expansion is a priority for the bank, following an extended restructure that has seen the redistribution of resources from the investment bank to its private client business globally.

Tucker added that the seven-strong chain of regional offices, which spans the North, Midlands, Edinburgh and Jersey, consistently scored higher than London in client satisfaction surveys. 

Standard Life Wealth and Ashcourt Rowan have also expanded into the region more recently.

For more on how UBS hopes to re-establish itself in the UK, see our cover star interview with Tucker in next week’s edition of Wealth Manager.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • Ashcourt Rowan PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

Co-op files £2.5bn loss after 'disastrous' 2013

by David Campbell on Apr 17, 2014 at 09:20

Sorry, this link is not
quite ready yet