Connecting Mount Fuji to the Matterhorn

In Asia Pacific, the world’s fastest-growing market, we’re continuing to expand and make key strategic moves to engage in more business opportunities and to connect with a broader client base. As part of this effort, the operational side of the partnership between UBS Japan and Sumitomo Mitsui Trust Holdings (SuMi Trust) opened for business in 2021. 

Building on our 50-year history in Japan, the partnership marries the Swiss insights, as well as the 160-year traditions and global capabilities of our firm, with the power, scale and knowledge of Japan’s premier trust banking group, which specializes in bringing inheritance, real estate and loans, as well as wealth transfer services to high net worth clients. Importantly, these are capabilities that UBS could not provide alone in the country.  

The tie-up between the two will give high net worth clients in Japan an offering unmatched in scope and quality by any domestic or global peer. The country has an estimated USD 17 trillion of investible assets, much of which is not yet served by wealth advisors – so, as well as bringing with it many opportunities, this venture is also a substantial boost to our brand profile in an enormous, yet relatively untapped, market. 

“With the addition of SuMi Trust's broad range of real estate, trust and loan services, we can now offer Japanese clients a portfolio of products and services equal to what UBS offers its clients today in Switzerland,” said Japan Country Head Zenji Nakamura. 

With the addition of SuMi Trust's broad range of real estate, trust and loan services, we can now offer Japanese clients a portfolio of products and services equal to what UBS offers its clients today in Switzerland.

Soon after the partnership was announced, the two groups established a consultation and event organizing company to identify prospective new clients, and also began introducing each other’s products to their respective client bases. They also worked hand-in-hand to create and introduce UBS SuMi TRUST Wealth Management, so that it could deliver a uniquely broad and relevant portfolio of benefits to wealthy clients across Japan. 

The venture is Japan's first-ever one-stop shop for the wealth management needs of high net worth and ultra high net worth individuals. The partnership is certainly a significant event, and one of a number we've formed recently around the globe as we seek to offer our firm’s unique expertise in more markets. In 2020, for example, UBS Securities became the first foreign joint venture to gain market maker-status and access to China’s USD 12 trillion bond market. And a binding agreement for a UBS-controlled, jointly owned investment bank in Brazil, as well as a number of other key South American markets, aims to position UBS well to become the top bank with leading investment capabilities in another region where we see significant growth potential. 

Connecting people is at the heart of what we do. Every day, our global team of around 70,000 employees links people up with others, and to ideas and opportunities that make a real difference. Switzerland as a nation is highly regarded in Japan, seen as having a deep commitment to quality and attention to detail, as well as being a trustworthy country. And, as a firm with deep Swiss roots, we try to evoke those same qualities as we present ourselves in other overseas markets, too.  

UBS SuMi TRUST Wealth Management is the first to bring Japan a full array of wealth management capabilities, on an equal scale with the world’s other private banking markets, in a truly holistic offering. As a key market for our firm, Japan offers huge opportunities, not only for wealth management, but also for our investment banking and asset management capabilities.  

“This venture provides a substantial boost for our overall business in Japan, bringing new business opportunities and reputational benefits to the entire firm,” Zenji continued. “It also offers further testament to our long-term commitment to the Japanese market.”