UBS Completes 100% Acquisition of UBS Securities in China

UBS Group AG has announced that the China Securities Regulatory Commission has approved its acquisition of the remaining 33% stake in UBS Securities Co. Ltd., making it the sole shareholder of the firm. This move follows UBS's previous increase in its stake in the company from 67% to 100%, which marked the first time a foreign financial institution had controlling interest in a domestic securities firm. The acquisition of the remaining stake will bring UBS's ownership in UBS Securities to 100%, solidifying its position as a major player in the Chinese securities market.

UBS Securities, established in 2007, is the first foreign-invested securities firm in China to hold a full range of licenses. The firm has been a significant player in the Chinese securities market, offering a wide range of services including investment banking, brokerage, and asset management. The acquisition of the remaining stake by UBS is a strategic move that will allow the firm to have full control over its operations in China, enabling it to better serve its clients and capitalize on the growing opportunities in the Chinese market.

The approval by the China Securities Regulatory Commission is a significant milestone for UBS, as it demonstrates the regulator's confidence in the firm's ability to operate in the Chinese market. The acquisition of the remaining stake in UBS Securities is also a testament to UBS's commitment to the Chinese market, as it has been steadily increasing its stake in the firm over the years. The move is expected to enhance UBS's ability to provide comprehensive financial services to its clients in China, as well as to strengthen its position in the competitive Chinese securities market.

UBS Group Chief Executive Officer Sergio P. Ermotti expressed pride in the firm's long-term commitment to the Chinese market, highlighting the support received from Beijing Guojin Asset Management Co. Ltd. This support has been instrumental in establishing UBS Securities as a leading player among foreign-invested securities firms. Ermotti emphasized that UBS will continue to invest in the Chinese market, viewing it as a key pillar of its growth strategy and a means to further solidify its leadership position in the Asia-Pacific region.

Iqbal Khan, President of the Asia-Pacific region and Co-Head of Global Wealth Management at UBS, noted that the full acquisition of UBS Securities marks a significant milestone in the firm's integrated strategy for the Asia-Pacific region. This move will enable UBS to expand its investment banking and wealth management services in China, capitalizing on the opportunities presented by the opening of the Chinese financial market. Additionally, it will allow UBS to participate more actively in China's wealth creation, providing clients with top-tier products, services, and professional consulting.

Barry Huang, President of UBS China and Chairman of UBS Securities, highlighted the firm's gradual expansion of its business scope over the past two decades to meet and serve client needs, particularly in cross-border business. Through UBS Securities, the firm will continue to provide investors with access to the Chinese market.