UBS Will Open Miami Office For Latin America Businesses
UBS of Switzerland will open an office in Miami, in 2020, to help Latin American wealth management firms. Miami has been flooded with Latin America assets, generating talk among lawyers and wealth managers.
The office of UBS in Miami is said to be of significant importance to the company, with 10 managers already in the initial year.
UBS currently has a wealth management operation in the city, but the new office is focused on being a financial liaison in Latin America.
According to Bloomberg, Miami is one of the world’s fastest offshore capital recipients. Many wealthy Latin Americans have made Miami their home to protect their assets.
Bloomberg also notes that UBS competitor, Credit Suisse, is thinking about opening a Miami office.