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UBS expands branch network in Taiwan

As part of its expansion drive in Asia, UBS has opened two new branches in central and southern Taiwan, bringing the strength of its branch network in the country to three, reported Reuters.

Earlier, UBS said that it is planning to double its private banking assets in Taiwan by 2009. With the new branches, UBS now has a total of 18 branches in six Asian countries, including China, Japan and Australia.

Reuters quoted Rory Tapner, chairman and CEO of UBS Asia Pacific, as saying: Taiwan will remain a very important market for wealth management. We have 380 staff in Taiwan. We don’t have that kind of scale anywhere else.