Korea Investment & Securities, UBP seek private banking partnership

Korea Investment & Securities Co. (KIS), a unit of Korea Investment Holdings Co., said on Thursday it has discussed a strategic partnership with Union Bancaire Privée (UBP), a Swiss private bank, to reinforce private banking and family office services.

Kim Sung-hwan, chief executive of KIS, on Wednesday met with Nicolas Faller, co-CEO of the Geneva-based firm's asset management business, and other key executives, including Stewart Edgar, its Asia strategy head and Wee Ping Nah, head of its asset management business in Asia, to explore their business tie-up. 

UBP offers personalized services for ultra-high-net-worth clients and family offices across 23 countries. With more than 50 years of history, it also provides a range of alternative investment products.

KIS seeks to expand exchanges of private banking professionals and family office services through strategic cooperation with UBP.

“Particularly, we will provide timely access to global alternative investment products tailored to high-net-worth clients and enhance our private banking services to global standards,” KIS said in a press release.

KIS has expanded its global investment product lineup through strategic alliances with global financial services firms, including Goldman Sachs, Carlyle Group, AllianceBernstein and Man Group.

It is now exploring new product offerings in collaboration with Los Angeles-based Capital Group to strengthen its global wealth management capabilities.

Write to Yeonhee Kim at yhkim@hankyung.com

Jennifer Nicholson-Breen edited this article.