UBS Gains Full Control of Beijing-Based UBS Securities

UBS has received approval to fully acquire Beijing-based UBS Securities, marking a strategic expansion in China after its merger with Credit Suisse. The acquisition involves purchasing a 33% stake from Beijing State-owned Assets Management to fully own the brokerage. This move enhances UBS’s investment and wealth management services in the region.

UBS has secured regulatory approval to fully acquire UBS Securities, headquartered in Beijing, solidifying its business operations in China post-merger with Credit Suisse. This development, announced on Friday, is seen as a critical step in UBS's strategic expansion in Asia's financial markets.

The Swiss banking giant will acquire an additional 33% stake in the brokerage firm from Beijing State-owned Assets Management, boosting its ownership to 100%, as confirmed by a company press release. This acquisition is part of a series of intricate transactions that followed the merger of UBS and Credit Suisse, including the sale of UBS's 36.01% stake in Credit Suisse Securities China to BSAM.

This milestone marks a significant advancement for UBS's integrated strategy in the region, enabling the expansion of its investment banking and wealth management services. Founded in 2006, UBS Securities became the first foreign majority-owned securities entity in China in 2018, setting a precedent for international firms in the Chinese financial sector.

(With inputs from agencies.)