UBS has set out a programme, called UBS Unique, to improve its expertise serving female clients whose private wealth is expected to grow faster than men’s every year for the next five years, with socially responsible investing set to be a key theme.
Women are expected to have invested more than $2.3trn in socially responsible vehicles by 2021 according to research by UBS.
Sharapova, who recently returned to competition after a 15-month doping ban, joins the likes of De Morgenzon Wine Estate’s owner Wendy Appelbaum and Dr Angelica Kohlmann, chairman and CEO of Kohlmann & Co, on the new advisory board and will play a key part in developing the UBS Unique programme.
The programme launched earlier this year and aims to increase the financial confidence of one million women.
Dr Mara Harvey, managing director UBS Wealth Management and head of the programme, said: “This changing dynamic requires the industry to change with it. We have set ourselves an ambitious task which we cannot do alone.
“The advisory board will play a pivotal role in helping us shape the future of our business; one that supports women in all their investment needs. We want to provide women with the knowledge and confidence to make the best financial decisions for them and to achieve the social impact they want.”
Research suggests that compared with men, women are less confident when it comes to investing and fewer than half around the world describe themselves as financially confident according to a report by The Center for Talent Innovation.
Other members of the advisory board include Jane Jie Sun, CEO of Ctrip.com, Michael Kimmel, sociology professor at Stony Brook University, Olivia Lum, group CEO at Hyflux Group, Ebru Özdemir, chairperson, Limak Investments, Dr Ellen Ringier, president of Stiftung Elternstein and Gionvanne Rovati-Forlanelli, manager of Rottapharm Biotech.