Why UBS Was Named Asia’s Best Investment Bank in 2025—Growth, Deals & Risks

Euromoney’s “Asia’s Best Investment Bank 2025” award spotlights UBS’s strong rebound and accelerated expansion in Asia following its acquisition of Credit Suisse (CS) in 2023. Where UBS had been historically present, especially in Philippines and Thailand, the CS deal allowed re‐entry into India and expansion across all six southeast Asian markets. [1] In Korea, this translated into UBS climbing from fourth to first in investment banking revenues in 2024. [1]

UBS’s advisory business gained momentum, becoming the top M&A advisor across Asia ex-Japan with $145 million in revenue and a roughly 9.8% share of the market in 2024. It led deals ranging from the $5.3 billion takeover of Malaysia Airport Holdings to multibillion-dollar cross‐border mergers and stake sales in southeast Asia. [1] Financing, equity capital markets (ECM), and bond underwriting also contributed, with UB S running convertible bonds, IPOs, and sovereign bond deals in key markets. [1]

The global markets franchise is another pillar of growth. China markets, namely, showed strong revenue growth: +25% in 2024 with trading volumes up ~40%. Technology played a crucial role: UBS beefed up electronic trading, introduced a next-gen algo engine (yielding 14% crossing in HK, 25-plus in Japan), and substantially reduced latency in Shenzhen (~94%) and Shanghai (~52%). [2] These moves have supported better execution, broader client reach, and cost discipline. [2]

Beyond headline metrics, regional wealth management has also strengthened. In Q1 2025, Asia Pacific saw pre-tax profit of US$428 million in wealth management, up ~36% YoY; revenues up ~9%; operating costs down, leading to a cost-income ratio of 58.4%. Assets under management in APAC surged to US$689 billion (vs previous periods), while invested assets globally rose past US$4.2 trillion. [8]

However, strategic risks and open questions loom. The regulatory environment—especially in Switzerland—is complex: new capital rules under discussion may increase requirements by up to 50% over global peers. [5] Additionally, macroeconomic volatility, China policy shifts, currency movements, and geopolitical risk remain headwinds. UBS must preserve momentum across integration, maintain execution quality, and manage cost pressures. [2][5] Open questions include how successfully UBS can further scale in China/RMB onshore, whether easing regulatory burdens will benefit or restrain growth, and how well it can balance revenue growth with risk and margin compression.