UBS (China) Limited, UBS AG's locally-incorporated wholly foreign-owned bank, on Wednesday opened its Beijing Huamao Sub-branch - UBS's first ground-floor presence in Asia Pacific.

UBS's business strategy is centered on its pre-eminent global wealth management businesses backed by its position as a leading Swiss bank, complemented by its Global Asset Management business and its Investment Bank.

As the world's second-largest and Asia Pacific's largest wealth management market, China is an important market for UBS and offers many business opportunities.

"UBS sees great potential for its China wealth management business and building a strong domestic franchise remains a priority for UBS," said Kathryn Shih, Head of UBS Wealth Management Asia Pacific.

UBS (China) Limited, a wholly-owned subsidiary incorporated in China in 2012, is focusing on wealth management business, aligned with UBS's global strategy.

"It is committed to providing superior international advice and holistic solutions to Chinese domestic clients to meet their personal, family and corporate nee

"The opening of the Beijing Huamao Sub-branch is an important step on the way to achieving our goal of being the pre-eminent global wealth manager in China. We will further expand strategically and enhance the range of products and services we offer our clients here," said

Karen Chen, Head of China Wealth Management and President (designated), UBS (China) Limited.

Located in the Central Business District of Beijing, the Huamao Sub-branch houses a selection of contemporary works of art selected from the UBS Art Collection.

UBS has over 150 years' history and is celebrating its 50th anniversary in Asia this year. It is the pre-eminent wealth manager in Asia Pacific and has 17 wealth management offices in six countries.

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