UBS is considering options to expand its wealth management business in China and is taking advantage of the relaxed rules to defend its leading position in the RMB 100 trillion (USD 14.8 trillion) market.
The bank isn’t rolling out any opportunities and will continue to defend its leadership position with new investments, according to Raymond Yin, head of Asia Pacific for UBS Asset Management.
How UBS will expand exactly in China hasn’t been decided yet, but it will see a double-digit growth of its staff there over the next few years.
China is currently opening up its capital markets and many foreign companies already embraced opportunities there.
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