Swiss-based bank UBS has moved to establish a regional family services unit to cater to the needs of its ultra-high-net-worth UHNW clients predominantly based in Hong Kong and Singapore.
The unit bundles family advisory services, philanthropy, wealth planning and global custody. It will be headed by Yan Lau, who has worked as a tax consultant at Price Waterhouse previously.
Lau also headed North Asia fiduciary services at Standard Chartered before joining UBS in 1991 most recently he was cluster head in UBS's UHNW team.
He reports locally to Amy Lo, the recently promoted head of UHNW for Asia-Pacific, and Mario Marconi, global head of family services.
Lo notes that UBS...