How UBS reshuffle heralds major China expansion

UBS promotes two veteran bankers to head its new one-stop-shop Greater China business ahead of an expected hiring spree.

UBS has announced a major reshuffle of its China operations and is set for a major hiring spree as it seeks to strengthen its position as one of the country's leading foreign investment banks and assetwealth managers.

UBS is expected to double its headcount in China to 1,200 employees by 2020, a person familiar with the matter told FinanceAsia on Thursday, after an internal memo showed the Swiss bank combining its Hong Kong-based corporate client solutions CCS China team with its Hong Kong and Taiwan team to create a Greater China business.

CCS is the investment banking arm of UBS providing deal...

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