UBS AG, Switzerland's biggest bank, said on Tuesday that it has hired 88 advisers this year to service rich Asian clients after its wealth management assets grew 38 percent to CHF218 billion in the past two years.
The advisors are based largely in Hong Kong and Singapore, UBS's key wealth management centres in Asia, bringing the total number of client advisors in the region to 1,120.
This number is more than eight percent higher than at the end of 2013.
Kathryn Shih, CEO of UBS Wealth Management Asia Pacific, said:"Asia Pacific continues to be one of the fastest-growing regions in the world for UBS and we continue to hire strategically in accordance with the growth needs of the business."
According to Bloomberg, Asians with at least US$1 million in investable assets are expected to see their riches climb to US$15.9 trillion by 2015 from US$12 trillion in 2012, according to a September wealth report by Cap Gemini SA and Royal Bank of Canada.