The US bank’s ambition in China is growing as disruptive technologies permeate the financial market. It is reorganising industry groups of its China investment banking team, while ramping up headcount.
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.
UBS could lose its Hong Kong corporate finance licence after a crackdown by the local regulator. But it will not be the only bank threatened with stiff penalties, according to a source familiar with the regulator’s plans.