Quam Private Wealth officially commenced its business on 13th December in Hong Kong, taking full advantage of the territory as an international financial hub while knitting together mainland's emerging opulent elites.
The bank is also looking to expand its private banking, energy and commodities and trade clearing businesses, Mr Hugues Delcourt said in Singapore.
In a 2007 survey, only farmers felt that wealth distribution was fair, possibly because the government rescinded agricultural taxes and began to provide tuition waivers for rural students in 2006, Zheng said.
A study by Kotak Wealth Management and Crisil estimates that there are around 62,000 UHNIs in India as of 2010-11, which is poised to rise to 219,000 by 2015-16, reflecting a total net worth of Rs235 trillion.
Sovereign wealth funds are seeking to hold more local-currency emerging bonds as a strategic allocation while central banks want to raise their exposure to higher-rated emerging economies such as Singapore, Chile, Brazil, Peru and South Africa, Trigo Paz
The group that UBS joins comprises BofA Merrill Lynch, GETCO LLC, Goldman Sachs, Morgan Stanley, and Quantlab Group LP. Instinet Incorporated, a Nomura Group company, remains the largest equity holder through a subsidiary company.
The findings said 76 percent of people consider the wealth gap rather serious, while 14 percent said they cannot make ends meet, said Professor Wong Chack-kie, associate director of the institute.