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Tim Eastwood, a former captain in the Household Cavalry who is nearing his tenth year at UBS, has been through some ‘big and exiting’ changes this year. He has just moved to Zurich as part of its UK international business and has a brand-new client base.
Eastwood heads up a team of four whose new clients are mainly engaged, sophisticated market professionals who are active from a trading and advisory perspective: ‘They listen to us and we learn a lot from them – it’s a sort of symbiotic relationship.’
‘Billionaires increasingly need their financial affairs coordinated beyond their domestic location,’ he adds. ‘Multi-shoring is by no means straightforward; it is not an exact science, but more an execution of strategic intent to ensure that UBS remains the pre-eminent wealth manager of choice.’
This year, he seems confident about the prospect of making money. ‘We still think there’s money to be made if you can capture the illiquidity premium
of non-traditional wealth assets,’ he enthuses. ‘We’re also finding that clients are becoming more and more discerning when it comes to sustainable investing.’ With inflation and rates rising, he also thinks hedge funds are
‘a particularly attractive investment at the moment’.