Chinese Authorities Block UBS Banker From Leaving Beijing

The Swiss bank has asked its China wealth management staff to reconsider their travel plans to the country in light of the news.
Chinese Authorities Block UBS Banker From Leaving Beijing
A sign of Swiss banking giant UBS is seen on October 6, 2018 at a branch in Lausanne. FABRICE COFFRINI/AFP/Getty Images
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Swiss bank UBS Group AG. has asked its China wealth management staff to reconsider their travel plans to the country after authorities there asked one of its bankers to delay her departure from Beijing to meet with local officials, a person familiar with the matter said.

The banker, who is based in Singapore and works in the relationship management team in UBS’s wealth management unit, still has her passport, but was asked to remain in China and meet with local authority officials next week, the person said. The identity and position of the banker were not known.