UBS signs up for majority-owned China JV

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By Rashmi Kumar
03 May 2018

UBS has submitted an application to the China Securities Regulatory Commission to bump up the stake in its China joint venture to 51%, becoming the first international bank to take advantage of China’s recent move to open up its financial sector.

UBS owns 24.99% of its JV UBS Securities, making it the second largest shareholder after Beijing Guoxiang Property Management Co. But the Swiss bank has long indicated it would like to own more of its onshore brokerage, a business it inherited in the mid-2000s after it bailed out ...

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