UBP sets up institutional Asia business

It may be a Swiss private bank, but in Asia, it's business is all about institutional investors.Union Bancaire Privee has opened an office in Hong Kong that is targeting the region's institutions - state and corporate pension funds, central banks, insurance companies and corporations - for its specialisation in hedge-fund investments, says Alexander Balfour, managing director of the Asian institutional business.He and fellow MD Yusuf Haque have opened the office this year and are in t…