Bloomberg News

UBS Opens Wealth Management Office in Israel as Staff Reaches 70

February 22, 2012

Feb. 21 (Bloomberg) -- UBS AG, Switzerland’s biggest bank, is opening a wealth management office in Israel to allow locals and foreigners access to domestic and international investment management under one roof.

“UBS is acting on a vision of becoming one of Israel’s most prominent wealth management investment houses,” Kobi Faigenbaum, chief executive officer of UBS Wealth Management Israel, said at a press conference in Tel Aviv today.

The Swiss bank has about 70 people working in the country, where it started activities in 1996, it said. UBS was accepted as a member of the stock exchange in 1997.

--Editors: Claudia Maedler, Linda Shen

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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