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WEALTH MANAGEMENT professionals looking to get further ahead in the industry in Hong Kong are being offered the opportunity to study, travel and advance their careers this month.

Global banking and finance giant UBS is looking for wealth management high fliers to take part in a 12-month course to be held in Singapore and Zurich, Switzerland, which will eventually land them a position in the company.

Strong global financial markets have created large global demand for accountants and other financial professionals.

Wealth managers are especially in demand in Hong Kong's booming financial market, where supply is short.

Some figures  reveal that demand for wealth managers  last December was 30 per cent higher than at the same time in 2005.

UBS first offered the wealth management associate programme  last year to build its talent base, and to ensure that it had the staff to cope with customer demands.

The company accepts up to 12 applicants for the 12-month course, with participants going through extensive theoretical and practical training.

Competition to gain a spot is fierce. A total of 2,500 people from around the world  applied online last year, forcing UBS to conduct a rigorous screening process.

The company selects candidates from Hong Kong, Taiwan, Singapore, Zurich and Geneva, depending on expansion needs.

Applicants undergo  a series of online tests before shortlisted hopefuls take part in half-day assessment centres at their particular base.

The company  needs to fill  two positions from Hong Kong: a client adviser and a product specialist. Hopeful candidates  must apply for the course by February 16.

Allen Lo,   deputy head of wealth management for Asia-Pacific UBS Wealth Management, said  that most participants in the course went on to have successful careers  at UBS as client advisory associates or product specialists. Successful applicants  are not charged any fees and  also receive a salary while training, as they are essentially taking on roles in the company once the course is complete.

Trainees get six months of experience in their home city before doing an intensive eight-week classroom-based programme in Singapore. Participants learn leadership and management techniques as well as technical skills

'A tailored programme of rotational assignments across UBS's wealth management businesses helps them to ... strengthen their technical knowledge and [gain] the necessary sales and advisory skills, in addition to developing their interpersonal and leadership capabilities,' Mr Lo said.

After Singapore, trainees head for Switzerland for a two-week assignment to develop an  understanding of the company,  a global perspective and to build a network of contacts across the firm.

UBS gives participants regular assessment and feedback  to build personal skills and develop their professional competencies.

Participants  can choose which career position they wish to pursue, from a client advisory associate or corporate adviser, to an investment adviser or investment consultant.

However, participants must still pass the wealth management diploma at the end of the course and show good on-the-job performance to be guaranteed  a place  with UBS.

Candidates  need to have three to five years of professional experience, preferably in finance, banking, insurance and consulting, as well as most of the necessary qualifications for their favoured field of expertise.

Mr Lo said recruits needed to be able to listen and work as a team.

'While  wealth managers hold a client-facing position in the wealth management team, in many ways they are like an orchestra's conductor.

'They must be able to bring together the different parts of the orchestra, or businesses ... ensuring that the different businesses are brought together to successfully offer the appropriate solutions and products to their client,' he said.

According to Mr Lo, recruits also need to know how to work under pressure.

'In the financial world, the situation is often fluid and in this environment private bankers must be able to assimilate information quickly and accurately before offering clear and concise advice,' Mr Lo said.

Client advisory associates manage a client's portfolio, while investment advisers and investment consultants act as sounding boards for client advisory associates and their customers.

Corporate advisers provide tailored corporate finance solutions to entrepreneurs.

Mr Lo said it was up to companies to develop new talent to meet the growing demand for staff, particularly in India, Hong Kong and China.

'We feel that this programme can contribute to the further development of wealth management in this region,' he added.

Apply now

Opportunity for wealth management trainees to gain positions and study in Singapore and Switzerland

Two positions are available for Hong Kong applicants

Applications are being accepted online

Applications close on February 16



Ticket to a successful career