UBS Sets Out Onshore China Private Banking, Wealth Ambitions – Report

Editorial Staff

10 February 2024

, which already has a significant banking footprint – including private banking – in the Asia-Pacific region.

As the news report also noted, in 2023 UBS signed a memorandum of understanding to collaborate with Industrial & Commercial Bank of China to serve its global and onshore clients, he said.

That deal is part of a multi-decade effort to grow its presence, Qian was quoted as saying.

This news service has contacted UBS for further comments on the story, and may update in due course.

UBS is discussing options with Chinese regulators for Credit Suisse’s onshore securities business, according to Qian, the report added.