UBS’s chief financial officer Clive Standish says the bank is fighting a “war of talent” in the Asian wealth management market as competitio...

UBS’s chief financial officer Clive Standish says the bank is fighting a “war of talent” in the Asian wealth management market as competition for talent in the field intensifies. "Wealth management has been growing and the talent pool available is not that deep because the business doesn't have long roots in Asia," he said during UBS's earnings conference call last week. "We have also been expanding our financial advisor base there aggressively by hiring and training.” Separately, the newly formed Clariden Leu bank’s chief executive F Bernard Stalder said the bank plans to expand in Asia and is currently looking to hire staff. He told FinanceAsia that the bank plans to add an additional 10-15 relationship managers a year in Asia, but added that competition to hire these managers is intense.