UBS in Talks to Buy Majority Stake in China Securities Joint Venture, CEO Says -Bloomberg
08 January 2018 - 8:11PM
Dow Jones News
--UBS Group AG has entered discussions to acquire a 51% stake in
its Chinese securities joint venture, Bloomberg reports, citing
Chief Executive Officer Sergio Ermotti.
--Mr. Ermotti said UBS is ahead of its plan to recruit 600 new
employees in financial positions in China over a five-year period
as the country further relaxes its foreign ownership rules,
according to Bloomberg.
--The move follows similar plans announced by global-securities
companies such as Morgan Stanley and Goldman Sachs Group Inc.,
Bloomberg reports.
Full story: https://bloom.bg/2CDELfn
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(END) Dow Jones Newswires
January 08, 2018 03:56 ET (08:56 GMT)
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