China's banks: unwrapping Xi's 'gift' to investors

The biggest foreign bank in China by assets has long sought a securities license in China and has lagged many of its peers. But maybe that’s no bad thing.

The promotion of a new senior relationship manager is the latest step in UBS's effort to capture the increasing opportunities in equities and FX, rates, credit businesses in China.

Hopes are rising that regulators will at last sate global players' appetites for stakes of more than 50% in their Chinese securities joint ventures. Golden opportunities await.

The British bank’s long wait has put it behind other global competitors and given domestic Chinese banks time to consolidate their position at home and extend their reach overseas.

Removal of restrictions sees leading foreign securities and asset managers re-evaluate China's financial market in search of profit. Tactics will determine if years of misfortune and lacklustre results will be reversed.

Di He is stepping down after 22 years at the Swiss bank’s China securities firm; Eugene Qian and Ken Chen are taking on new roles.