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Last year, UBS revamped how it sold private asset funds, combining the fund selection teams of its global wealth management and asset management divisions.
The new business Unified Global Alternatives (UGA), like many announced during large reshuffles at private banks in the aftermath of historical mergers, is complex, as it splits the team in five along asset class lines.
Alternatives and private markets are at the forefront of many private bank’s product shelves, particularly as other thematics, such as ESG, have fizzled out and clients are seeing value in diversification amid market turmoil, falling interest rates and rising valuations. As such, these teams have become increasingly important.
