Finance

UBS Expands Wealth Service to Target Australia’s Mining Capital

UBS Group AG estimates Perth is home to more than 20 billionaires and around 100 people worth over $100 million. — UBS Group AG estimates Perth is home to more than 20 billionaires and around 100 people worth over $100 million.
Photographer: Lisa Maree Williams/Bloomberg

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By Harry Brumpton

March 30, 2025 at 8:00 PM UTC

This article is for subscribers only.

UBS Group AG promoted Tim Clemenger to be its first client adviser for wealth management based in Perth, the Swiss bank’s latest move to attract more rich Australians.

Clemenger will be tasked with building the bank’s clientele in a city which the head of UBS Global Wealth Management Australia, Michael Marr, estimates is home to more than 20 billionaires and around 100 people worth over $100 million. Marr said he plans to add more advisers to high-net-worth individuals and families.