UBS Global Asset Management’s Asia CEO, Christof Kutscher, has outlined the business strategy behind entering fund administration, Asian Investor reports. UBS is planning to appoint teams for both operations and business development of its fund-administration platform in Singapore and Hong Kong.

The firm has recently appointed former HSBC fund-admin executive, Colin Lunn, to spearhead its entry into the Asian arena for fund administration. UBS will also seek to upgrade the service it can provide to sovereign wealth funds and other major clients in Asia. As per Kutscher, more than 90% of the fund admin business will be third party.

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