Tag: UBS

UBS Group Plans to Boost Asset Management Business in China

UBS Group AG UBS is mulling to use the new relaxed regulations in China to its advantage by strengthening its asset management business. The news was reported by Bloomberg.

China’s government opened its asset management markets wider for foreign firms, starting Apr 1, 2020. Under the new rules, asset managers across the globe can apply for wholly owned fund management licenses, which would grant them full control of mutual funds in China.

Further, global wealth firms, which are not financially strong to make significant investments, can apply for private fund management licenses, which will allow them to raise yuan-denominated funds from qualified clients to invest overseas.

Lastly, global asset managers can opt for boosting their ownership of existing joint venture (JV) partnerships in China to 100%.

UBS Group has long enjoyed a leading position in China compared with other foreign peers. The bank has been able to obtain licenses of

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UBS chairman brings in external consultants for potential merger with Credit Suisse

Logo of Swiss bank UBS is seen in Zurich

  • External consultants are helping UBS create a potential merger deal between the two largest Swiss banks, Credit Suisse and UBS.
  • It would be the biggest deal since UBS merged with Basler Bankverein in 1997.
  • UBS and Credit Suisse told Business Insider that they don’t comment on “market rumors and speculations.”
  • Visit Business Insider’s homepage for more stories.

UBS chairman Axel Weber has brought in external consultants to explore a potential merger with rival investment bank Credit Suisse, according to a Financial Times report.

A Swiss finance blog reported the potential merger – which would create Europe’s largest bank – on Monday. On Tuesday, the FT reported a deal was on the cards, but that no formal discussions have taken place between the two banks. 

It would be the biggest deal for UBS since 1997 when

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