‘Momentum Of Our Business To Grow’

Axel P. Lehmann, Group Operating Officer and a member of the Group Executive Board of the UBS Group AG, and President of the Executive Board of UBS Business Solutions AG, was in India recently. Lehmann talks to Ashish Sinha on the importance of India.

Edited Excerpts:

How would you describe UBS’s experience in India so far?
UBS has had a longstanding presence in India, and is one of the top brokers for international investors investing in Indian equities. Our clients have had access to brokerage and advisory services via UBS India Securities which include investment banking, equity and equity-linked financing, M&A advisory, and debt capital market financing, for more than two decades. We expect momentum for our business in India to continue growing and plan to add resources to all of our businesses here as they develop.

What is the focus of newly opened UBS Business Solutions Center in Mumbai?
Setting up in Mumbai will allow us to improve the quality of our services, reduce operational risk and costs, and access new revenue opportunities and talent. Access to world-class talent was a primary factor in choosing Mumbai as the location of the latest Center. By matching the global revenue base with a diversified global cost base, concentration risks are reduced and existing processes can be improved. India is also important to us because it provides proximity to our vendor ecosystem in India. Airoli, in particular, stands out as a location offering the right talent within an attractive infrastructure and cost framework, as well as having proximity to emerging markets across Asia Pacific.

How has UBS been planning on making their presence felt in India as well as globally?
In India, UBS provides onshore capabilities in the core businesses of Equities and Corporate Client Solutions and continued offshore rates and credit activity from Singapore. Globally, UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland via our Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and Investment Banking businesses. Our strategy seeks to build on the strengths of all our businesses and focusses on areas in which we excel, and capitalise on compelling growth prospects in the regions in which we operate.

Why is India compelling as a market for UBS?
India is one of the fastest-growing economies in the world. Continued financial liberalisation coupled with strong economic performance augur well for the rapid development of the banking and financial services sector, while growing consumer affluence and the emergence of India’s middle class stand to underpin the financial services industry.