Union Bancaire Privée

from WealthBriefing MENA Awards Acclaim 2022

Taurus Wealth Advisors Ltd

FAMILY-OWNED, FAST AND LOCALLY GROUNDED: UNION BANCAIRE PRIVÉE’S RECIPE

Tom Burroughes, WealthBriefing Group Editor, talks to Mohamed Abdellatif, Site Manager (Dubai), Union Bancaire Privée.

Where in the world do you operate – are you mainly a domestic player or international?

Union Bancaire Privée (UBP), headquartered in Geneva, is a private bank of global span that has been active in the Middle East for more than 20 years. Initially operating only out of Switzerland, the region is now a core part of UBP’s business, especially as we have built on the success of our private banking services run from Dubai since 2012.

Can you sum up the philosophy that sums up your firm/you the best

There are three factors which make UBP stand out in the MENA region.

Firstly, as a family-owned bank, we operate with a flat structure and the family is closely engaged in every decision relating to clients. Our business agility with efficient processes and fast decision-making is a key differentiator compared to other banks with their layers of extra complexity.

Secondly, on the operational side, whether for account opening or everyday client enquiries, the response is much faster than other banks, a service much appreciated by clients especially in times of market uncertainty.

Finally, as a private bank operating locally, with local knowledge, we are wellplaced to support advisory business and active client mandates.

Furthermore, we can access expertise across UBP to draw on the expertise of specialists throughout our business, including private markets. Our strength and depth enable us to deliver on our commitment to provide strong service and innovative investment ideas. We also run a strong DPM team out of Geneva.

UBP’s approach is anchored by the Bank’s solidity, with our Tier 1 Ratio of 23.2 per cent (as 30.06.2022) being one of the highest in the sector.

Please explain what you think makes your firm successful in its chosen field

Clients in the MENA region historically have had a strong appetite for investing in the private markets, which has only whettened in 2022 as clients look for decorrelated sources of wealth protection and generation to those of traditional assets. At times of volatility and uncertainty, opportunities can emerge from all sorts of sources and our expertise in the private markets and private equity spaces has allowed us to remain active in bringing a series of compelling deals to the attention of clients.

Established in 2015, UBP’s Private Market Group (PMG) composed of 35 members, gives UBP’s clients exclusive access to Private Equity as well as Private Debt, Real Estate and Infrastructure via the following strategies: Direct co-investments, secondaries, niche strategy funds and in-house funds. The PMG covers the whole investment process from the initial sourcing to due diligence, opportunity distribution and monitoring. As of June 2022, the PMG had raised total commitments of about SFr3.9 billion ($4.17 billion).

MENA clients particularly appreciate UBP’s global reach of sourcing, access to club deals, the swiftness of execution, and customization of approach to fulfil requirements.

What position would you like your firm to hold in its sector in five years’ time?

UBP’s Assets under Management for the Middle East exceeds $10 billion with management of this wealth split between Geneva and Dubai. From our early beginnings, UBP has always been highly committed to the region. We have hired many experts and now have around 40 people in Dubai covering different Middle Eastern markets. We aim to continue recruiting and retain our teams so that they can shape a successful career. Our expansion path anticipates growth for the next two to three years and beyond. This commitment is reflected by our recent expansion of our office in Dubai.

Mohamed Abdellatif

Site Manager, Union Bancaire Privée

How do awards such as this make a difference to your firm and your colleagues

This award show that UBP is committed to cater to client needs in the MENA region. We want to build on this record of success with a promise of more to come.

PRIVATE BANK - PRIVATE EQUITY OFFERING

WINNER Union Bancaire Privée