New Office
UBS Optimus Foundation Expands Into Singapore
The organisation says drivers such as strong family office support for sustainable investing creates a favourable backdrop for its efforts.
The UBS Optimus Foundation, formed by UBS two decades ago, is opening an office in Singapore to expand its philanthropic offerings to Asian clients.
The office will be the seventh for the foundation. Globally, the UBS Optimus Foundation supports in excess of 200 programmes, including in China, Hong Kong, Indonesia and the Philippines which, in aggregate, are worth more than SFr200 million. The foundation's Singapore office is its third in Asia, in addition to Hong Kong and Beijing.
“Philanthropy and sustainable investing are an increasing focus of our clients in the region, many of whom are seeking investment opportunities in sectors including healthcare, oncology and affordable education,” August Hatecke, co-head, UBS Wealth Management Asia-Pacific and country head UBS Singapore, said.
Hatecke added that 64 per cent of family offices in Asia-Pacific expected to increase sustainable investments in 2020. “By establishing an office in Singapore, we hope to continue to inspire the next generation of philanthropic leaders in Asia,” he added.
Desmond Kuek, Chairman of UBS Optimus Foundation Singapore, said: “We expect unprecedented amounts of wealth in Asia to be transferred across generations over the next 20 years. This will be a significant boost to philanthropy as many entrepreneurs are committed to using their wealth to create a legacy that has positive social impact. At present, about 40 per cent of the foundation’s grant-making is in Asia-Pacific,“ Phyllis Costanza, head UBS Philanthropy and CEO of the UBS Optimus Foundation, said.
In 2015, the foundation launched what it said was the world's first development impact bond (DIB) in education, the Educate Girls Development Impact Bond. This bond facilitated the enrolment of out-of-school girls in Rajasthan, India.
The foundation connects UBS clients with entrepreneurs, new technologies and models to achieve the UN Sustainable Development goals.
