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Office Spotlight: UBS Global Wealth Management, Manchester

We shine a spotlight on UBS's Manchester office.

Office Spotlight: UBS Global Wealth Management, Manchester

Year office opened: 2004

Number of staff: 10

Average portfolio size: £3-5m

Q&A with Simon Pearson, regional head, UBS Global Wealth Management, Manchester (pictured below)

What is your typical client demographic?

We don’t see ourselves as having a ‘typical’ client here – they each have different backgrounds and needs, and we work closely with each client to address their different challenges and priorities to help them reach their financial and life goals. That said, the majority of our clients are self-made and are looking for a safe home for the wealth they have accumulated through their entrepreneurial endeavours.  

What challenges are facing your local area? 

As we approach the end of the current economic cycle, we are getting a lot of questions from clients about the direction in which markets are going. In this scenario, it’s important to stay calm, as there is a temptation to retreat into cash grows. We would urge our clients to maintain a diversified portfolio and position themselves for long-term growth.

Bullish or bearish?

We are cautiously optimistic. Current global market conditions undoubtedly point to a more challenging road ahead. Whether it is tightening monetary policy, the maturing cycle or geopolitical tensions across the globe, several factors will continue to contribute to heighted volatility. That said, we don’t yet see the conditions commonly associated with an impending recession. Most political risks will prove idiosyncratic, and we do see growth opportunities and pockets of value. Our recent investor sentiment survey showed that UK investors are the most bearish in Europe and the Middle East, driven by the domestic political environment.

What differentiates your region?

Manchester sees itself as the UK’s second city, and that certainly seems to be the case with the high percentage of corporate finance houses located here. This easy access to finance drives a high volume of deals in the city and has become the lifeblood of a thriving entrepreneurial culture.

What is the best thing about living in your region?

Manchester is a vibrant city with a strong cultural heritage. The Royal Exchange Theatre, which UBS sponsors, is a personal favourite for top-class performances. The Lake District, North Yorkshire Moors, Pennines and Snowdonia are also all within a short drive of the city.

What is a typical saying in your region?

‘Where there’s muck there’s brass’. Much of the region’s culture stems from its industrial past, and this phrase is no different, encapsulating the work ethic and entrepreneurial spirit that remains strong in the region.

What is your office motto?

Global bank, local delivery

As the largest wealth manager in the world, we can offer advice and opportunities on a global basis. However, we know it’s important that we tailor this offer to the specific priorities of our clients here in the North West, and we pride ourselves on the personal, local relationships we build with all of our clients.

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