UBS opens Shanghai branch

UBS (China) Ltd, UBS AG's locally incorporated and wholly foreign-owned bank, has announced the opening of its Shanghai branch, which will focus on wealth preservation and succession planning services.

The branch is located in the Xintiandi neighborhood, home to a community of high-net-worth and ultra-high-net-worth individuals.

Amy Lo, head of UBS wealth management for China, said there has been a shift in customer demand in the past few years, with more focus now on family needs.