Swiss Bank UBS Aims for Full Ownership of Securities Firm in China

Beijing State-owned Assets Management has said it will auction off its 33 percent stake in UBS Securities.

The logos of the Swiss banks Credit Suisse and UBS are pictured in Zurich on June 12, 2023. Ennio Leanza/Keystone via AP

Swiss bank UBS may become the first foreign financial institution to fully own a securities company in China, following the withdrawal of its partner in their joint venture, UBS Securities.

Beijing State-owned Assets Management (BSAM) said it will auction off its 33 percent stake in UBS Securities.