UBS (China) has rolled out onshore family trust solutions for affluent Chinese clients.
It has become the first foreign bank in China to provide such services.
The private bank says this will help them meet the demand for family trust solutions in China.
It will provide advisory services for high net worth households to help them pass down family wealth and cooperate with third-party trust companies to offer family trust solutions that integrate wealth preservation and transfer.
Zhang Qiong, president and head of wealth management at UBS (China), said: “We are glad to become the first foreign bank to launch onshore family trust services in China, providing local clients with solutions based on our wealth management principles of liquidity, longevity and legacy.
“Thanks to China’s steady economic recovery, there has been continued growth in the number and wealth of high net worth Chinese households that are increasingly interested in family.”
