Former Calastone Asia Head Joins UBS Asset Management

Chaker will lead UBS Fondcenter’s expansion efforts within the region.

He says the UBS Fondcenter business is already well-established in Hong Kong and Singapore with several private banks using its services to improve efficiencies and reduce complexities within their funds distribution department. “As we increase our presence in the region, our plan is to further grow our market share in Hong Kong and Singapore and assess how we can support our customers as they expand their wealth management business in North Asia and South East Asia,” he tells Waters Technology.

He has more than 20 years of experience in the fund distribution and servicing industry and has held senior positions at Citibank, Euroclear, Brown Brothers Harriman and most recently, Calastone.

He says rising costs are challenging for smaller private banks. UBS AM provides ‘partnership’ services, which are designed to boost an intermediary’s bottom line without increasing its fixed costs.

“The strategy is a powerful differentiator for UBS at a time when private banks in the region are looking to work with fewer product providers. At the same time, distributors have sharpened their focus on the ‘add-ons’ that asset managers bring beyond merely the offering of funds. These might include technology platforms, advisory services, and client education,” Chaker adds.

Fondcenter aims to relieve banks of some of the ongoing regulatory and compliance burden they face. It helps distributors focus on core competencies, and connects 300 global fund distribution partners with 400 fund providers. 

Meanwhile, Nicolas Huras will move from AM’s fund management services business to become head of sales for Fondcenter in Singapore this April.