UBS Hires Aussie Private Banker in Singapore
The wealth unit of UBS has hired a private banker to serve Australian clients in a newly formed offshore team in Singapore, finews.asia has learned.
UBS Global Wealth Management has appointed Oliver Bareau as a market team head in the Australia international team, according to an internal memo seen by finews.asia. Based in Singapore, he reports to Dominique Boer, head UBS WM private wealth and Australia international.
Bareau has 20 years of wealth and asset management experience, most recently at Bridgewater Associates as head of APAC distribution, focusing on wealth management firms and large family offices. Prior to that, he worked at J.P. Morgan Private Bank for nearly two decades in New York and Singapore, covering the US, non-resident Indian and Australia markets.
Post-Merger Strategy
Following the takeover and integration of Credit Suisse, an Australia strategy has been formed to combine the capabilities and offerings of the enlarged Swiss bank to serve clients in the market both onshore and offshore.
For example, the global family and institutional wealth (GFIW) coverage model has been launched in Australia and this year, the Singapore-based Australia international team was set up to provide global coverage of the client segment. The onshore and offshore Australia teams are led by Michael Marr and Boer, respectively.
When contacted, a spokesperson for the bank confirmed the new hire.