UBS Mulls China Expansion, New Hires for Asset Management | Bloomberg

“UBS Group AG is exploring options to expand its asset-management business in China, taking advantage of relaxed rules to defend its leading position among foreign players in the 100 trillion yuan ($14.8 trillion) market.

Under new regulations introduced this year, foreign firms such as UBS can take full control of their mutual fund joint ventures in China, or seek partnerships with a local bank’s asset management arm to increase offerings.

“We’re not ruling out any opportunities,” Raymond Yin, head of Asia Pacific for UBS Asset Management said in an interview from his base in Shanghai, without specifying any plans. “We will continue to invest in the China market to maintain our leadership position.””

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