Swiss financial juggernaut UBS empowering artists to connect people

As an old friend of the Beijing Music Festival, Switzerland-based international financial institution UBS deems the partnership an ideal fit in their mutual pursuit of collaboration and innovation.

In September, the Swiss giant sponsored the festival again. Part of the event is a concert by Laufey Lin, a jazz musician of Chinese and Icelandic ancestry, and a performance by noted tenor Warren Mok and pianist Chen Yu.

The music festival debuted in 1998 and UBS became a sponsor five years later.

Eugene Qian, UBS China Country Head and Chairman of UBS Securities, said: "UBS has a long-standing commitment to supporting the cultural and financial development of the communities in which we operate. The company places great emphasis on the health and prosperity of those communities and has long supported charity programs in the areas of education and skill development, providing targeted financial support and employee volunteering to generate positive impact in China.

"During this year's Beijing Music Festival, we hosted a staff 'Lunch and Learn' event with Laufey in which participants could share their ideas and experience on promoting music to the community, which fulfills our goal and mission towards public education and cultural connections with wider communities."

Together with Beijing Music Festival Arts Foundation, UBS Optimus Foundation and Beijing New Sunshine Charity Foundation, UBS also arranged a special percussion music class for hospitalized children this year, aimed at providing psychological support and social services for ailing kids and their families.

The company's long-term partnership with the Beijing Music Festival underscores its dedication to promoting musical talent in China and enhancing cultural connections among performers from around the globe. The company believes artists are spokespersons and their art has the power to connect and allow people to build a better world.

UBS also has a long-standing relationship with Art Basel. It is the Global Lead Partner of Art Basel, supporting its three shows in Basel (since 1994), Miami Beach (since 2002), and Hong Kong (since 2014).This year UBS is celebrating nearly 30 years of this partnership. Additionally, UBS sponsors regional art fairs such as Taipei Dangdai, ART SG in Singapore and West Bund Art and Design in Shanghai.

"We know finance has a powerful impact on the world," said Qian, adding that UBS wants to be the financial provider of choice for clients aiming to mobilize capital towards the achievement of 17 Sustainable Development Goals of the United Nations' 2030 Agenda for Sustainable Development and the orderly transition to a low-carbon economy.

To support the cultural and financial development of local communities, UBS has partnered with social welfare organizations, including China Foundation for Rural Development, Shanghai Soong Ching Ling Foundation, Beijing United Charity Foundation and Guangdong Rural Women Development Foundation. Key projects involve youth resilience building, career education and financial literacy education, rural vitalization, women empowerment, the migrant children program and sustainability education and promotion.

UBS started to provide corporate financial advice to Chinese companies in 1985, and over the past 30-plus years, it has achieved several milestones in this area, including helping to restructure Beijing Securities and establishing UBS Securities in 2006. The latter marked the first time a foreign bank invested directly in a fully licensed Chinese securities firm.

Most recently, as a global wealth manager, it launched a digital-led wealth management platform, WE.UBS, in China in 2022.

"UBS is well positioned to take advantage of the opportunities that emerge from China's opening-up of the financial sector, wealth creation and the focus on the new economy and sustainability," said Qian. "We are in a unique position to offer international investors access to China as well as supporting Chinese companies and investors wishing to go global."

In June, UBS completed its acquisition of Credit Suisse, which means a bigger presence for it in China, especially in asset management, and in September, the company entered into a memorandum of understanding with Industrial and Commercial Bank of China to explore strategic collaborations across asset management, wealth management, investment and corporate banking in the Chinese mainland, cross-border and overseas markets.

"We are proud of our work and achievements thus far in both the financial and cultural fields, and our dedication in serving communities in China will continue," said Qian.

"UBS is grateful for all the support it has received from clients, partners and the general public throughout the years, and we will keep seeking new ways to support the growth of the regional art and culture scene while pursuing other initiatives on arts education and sustainable development."