UBS today announced that it is expanding its Canadian KeyClient Group (KCG). The group provides a comprehensive suite of wealth management services to Canadians with investible assets of more than $50 million.
Since the KCG’s establishment in Canada in 2006, demand for the services provided by UBS has created the need to expand the number of KCG advisors.
“Despite the volatility in the markets, we have seen the Canadian economy generate a great deal of sustained wealth over the past 10 years,” says Grant Rasmussen who is head of wealth management in Canada. “Recent surveys have shown that the number of wealthy Canadians is increasing so you really do need a focused strategy for this market.”
UBS now has KeyClient advisors in all of its offices in Vancouver, Calgary, Toronto and Montreal for a total of eight up from the original four last year.
The global KeyClient initiative was launched by UBS in January 2003 to deliver a consistent and pro-active approach towards the wealthiest individuals and families around the world. UBS says it now serves more billionaires than any other wealth management firm in the world.
The Canadian KeyClient group focuses on the more than 3,000 families in Canada that seek sophisticated services over a wide range of categories, such as aircraft financing, wine banking, art banking and non-traditional asset classes. The KCG also develops investment strategies that can involve single stock lending, currency solutions and active capital preservation.
“KeyClients tend to approach us as much for professional advice relating to their family situation, such as family governance issues and philanthropy strategies, as they do investment solutions,” says Sam Sivarajan, head of the Canadian KeyClient Group. “We now have a steady stream of UBS global experts working with our Canadian clients to provide the specialized counsel and strategies that these wealthy Canadians are looking for.”