UBS Sets Sights On Asia Philanthropy Expansion

Tom Burroughes

6 July 2015

It is now a cliché of financial reporting that Asia has the fastest growth rate of high net worth individuals. And the role of philanthropy in tackling poverty, education and other issues is a natural follow-on from such rapid expansion in wealth.

held a forum around Asia-based philanthropy last week in Singapore.

Later this year, the Zurich-listed firm said in a statement that it will launch its Optimus Foundation organisation in Singapore; the foundation is the bank’s professional grant-making foundation which focuses on children education, healthcare and protection. The foundation is funded by donations from UBS's clients and contributions from the firm.

At the Asia forum was guest of honour J Y Pillay, the chairman of the Council of Presidential Advisors and a luminary of Singapore public affairs for the past five decades; he was the event’s keynote speaker.

According to a recent UBS and PwC 2015 report, the average age of Asian billionaires is 57, an age when many begin to consider how to preserve and transfer their wealth. This wealth demographic can trigger a wave of philanthropic giving.

"As Asian billionaire families grow in size and complexity, succession planning and the engagement of the second generation are important in establishing a lasting family legacy. Increasingly, philanthropy has been a social cohesive force to successfully transmit the family values across the generations,” Josef Stadler, head of the global ultra high net worth group at UBS Wealth Management, said.

Other speakers at the forum included Peter Lawson-Johnston II, managing partner, Guggenheim Partners, US; Justin Rockefeller, co-founder, The ImPact, US; James Chen, founder and trustee, Vision for a Nation; founder, Adlens, Hong Kong; Junita Ciputra, managing director, Ciputra Group, Indonesia; John Wood, founder, Room to Read, Hong Kong; Jack Lu Ke Wen, vice president, HTC, Taiwan; Belinda Tanoto, trustee, Tanoto Foundation, Singapore; David Sin, chief executive, SIN Capital Group, Singapore; Lu Dezhi, chairman of Huamin Charity Foundation, China; Laurence Lien, co-founder and chief executive, Asia Philanthropy Circle, Singapore; Noni Purnomo, president director, PT Pusaka Citra Djokosoetono, Blue Bird Group Holding, Indonesia; Robert Friedland, chairman, Ivanhoe Capital Corporation, Singapore; Quek Sue Yian, head, corporate social responsibility department, Hong Leong Management Sdn. Bhd, Malaysia.