UBS Plans Bigger China Onshore Wealth, Asset Management Business

(Bloomberg) — UBS Group AG aims to grow its wealth and asset management business in China, despite the slowing economy and dearth of deals that has weighed on some Wall Street and European lenders in the country.

China is a key strategic global market and is a place where “we want to do more,” Eugene Qian, China country head for UBS, told Bloomberg TV in an interview on the sidelines of the bank’s Greater China Conference in Shanghai Monday. “Particularly, we want to expand the onshore wealth and asset management platforms.”