With the formal handover of its new Hong Kong premises already complete and plans well under way to start moving all local staff there in the fourth quarter of this year, UBS, the world’s largest wealth manager, is showing long-term confidence in the city’s future as an international financial centre.
The new headquarters is located near the West Kowloon Cultural District, one of the world’s largest cultural and arts quarters spanning 40 hectares (99 acres) and home to renowned institutions such as the M+ museum and Hong Kong Palace Museum.
The eye-catching, 14-storey UBS Tower also sits directly above the West Kowloon high-speed rail terminus for services to mainland China and is just a short walk from the Airport Express line. This choice of location is a symbolic statement by the Swiss-based bank about capitalising on Hong Kong’s status as an international financial hub and a gateway between mainland China, investment powerhouses in Asia and beyond.
“The new location in West Kowloon strengthens our connectivity to the Greater Bay Area and beyond, reinforcing Hong Kong’s role as a global financial hub and a gateway to mainland China,” says Iqbal Khan, president of UBS Asia-Pacific and co-president of UBS Global Wealth Management.
“At the same time, UBS Tower provides a modern, future-ready environment that supports how we work today – from innovation and client engagement to talent development and well-being.”
The new building, which was developed by Sun Hung Kai Properties (SHKP) as part of the International Gateway Centre project, has about 460,000 square feet of office space and large, flexible floor plates that allow for internal layouts facilitating easy interaction and cross-business collaboration.
Amy Lo, chairman of UBS Global Wealth Management Asia and also head and chief executive of UBS Hong Kong, says: “Hong Kong remains a strategically important market for UBS. To achieve long-term, sustainable growth, it is essential that we operate in an environment that supports both our future ambitions and the strong foundation we have built.”
She adds: “Since the integration, we have become a larger and more connected organisation, yet we continue to operate across multiple locations. Bringing our teams together is not only symbolic but also highly practical – it enables us to work more efficiently, collaborate more seamlessly and foster a stronger sense of one team.”
A clear advantage of UBS’ new Hong Kong office will be its close proximity to the transport links providing easy connectivity with key cities across the Greater Bay Area (GBA) and mainland China as well as overseas.
According to Lo, it is possible to get from UBS Tower to the train platform in just a few minutes. From there, it is a mere 14 minutes to central Shenzhen and less than an hour to other urban centres in the GBA, a region with a population of around 87 million, a combined GDP of over US$2 trillion and almost 500,000 high-net-worth individuals.
“We are also focused on elevating the employee experience and promoting holistic health and well-being, ultimately enabling our people to perform at their best,” Lo says. “This space reflects our ambition to create an inspiring, people-centric workplace that supports how we collaborate and grow, both in Hong Kong and across the region.”
One stand-out feature of UBS Tower is a rooftop walking trail, which is integrated with a landscaped garden providing spectacular views of Victoria Harbour and offers an ideal place for employees to relax and have a break. UBS will be the first bank in Hong Kong to have a dedicated rooftop walking trail like this.
There will also be amenities to encourage a sensible work-life balance in what is typically a fast-paced, high-stakes industry. They include social corners where people can connect; quiet rooms for individuals to have time to themselves; and an on-site 200-seat cafeteria on the top floor that will be operated by The Ritz-Carlton, Hong Kong.
Looking ahead to the opening of UBS Tower and what lies beyond that milestone, Khan says: “This is more than a relocation. It is an investment in our people, our clients and our future in this region.”
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