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The Pandemic Is Transforming the Wealth Management Industry, UBS Says

  • Virus is making investors more cautious, APAC co-head says
  • UBS says one third of Hong Kong staff still working from home
A deserted 42nd Street is seen in midtown New York on April 19.
Photographer: Timothy A. Clary/AFP via Getty Images
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The Covid-19 pandemic has sparked dramatic changes to the wealth management industry, making clients more cautious, more digitally savvy and more interested in sustainable investments, according to a UBS Group AG executive in Hong Kong.

“The whole pandemic has transformed the business and also the way we operate,” said Amy Lo, co-head of Asia Pacific wealth for the Swiss bank. “The world has become more digital, less global and more local.”