UBS retains securities, investment arms in Philippines

MANILA, Philippines — While it has closed its representative office in the Philippines, UBS AG said that it would continue to operate in the country through its two licensed entities – UBS Securities Philippines and UBS Investments Philippines.

“UBS will maintain its two licensed entities – UBS Securities Philippines and UBS Investments Philippines. Both of which are leading franchises in their respective fields,” the bank said in a statement.

It also said that it remains deeply committed to the Philippine market since its entry into the country in 1996.

The Bangko Sentral ng Pilipinas (BSP) earlier announced that UBS AG has closed its representative office in the Philippines. The decision to close the representative office is part of the bank’s broader strategy, but UBS’s footprint in the Philippines remains significant.

“Our solid foundation in the Philippine market is underpinned by decades-long experience and deep knowledge of capital markets and changes over cycles,” the bank said.

In investment banking, the Swiss banking giant said “ it retains its number one position in the Philippines in core investment banking products and has  worked on all of the largest game-changing Philippine transactions ever across all product groups.’’

UBS Securities Philippines concluded 2024 with a 10.55-percent market share in the Philippine Stock Exchange, maintaining its number one ranking for the past three years.

Since 2004, UBS has completed over 160 transactions in the Philippines, with a total deal value nearing $40 billion.