UBS Business Solutions Center China1 opens new site in Wuxi

Shanghai/Wuxi, 1 November 2016 — Today, UBS announces the opening of its Wuxi site as part of the UBS Business Solutions Centre in China. UBS Business Solutions Centers are fully owned by UBS and they provide effective, efficient and innovative solutions to all UBS businesses globally.

UBS Business Solutions Centers are part of the firm's global location and workforce strategy which involves taking a holistic firm-wide approach to ensuring that UBS has the right people with the right skills in the right locations.

UBS Business Solutions Centers are strategically located in geographical areas with rich talent pools and provide UBS businesses with service solutions support around-the-clock in every time zone. Today UBS runs UBS Business Solutions Centers across the globe: in China, India, Poland and the US.

"The opening of the Wuxi site underpins our commitment to our global location and workforce strategy. It not only represents a milestone in the build-out of UBS Business Solutions Centers in strategic locations globally, but also reinforces our strong commitment to China," said Axel Lehmann, UBS Group Chief Operating Officer.

"We are pleased to see the UBS footprint expand to Wuxi. China is a key market for us where we expect continuous growth momentum for UBS businesses. The Wuxi site will be instrumental to meet the increasing demand for local talent to support our growth both in and outside China," added Eugene Qian, UBS Group China Country Head and President.

UBS Business Solutions Centre China operates in three locations – Shanghai, Beijing and Wuxi. Close to Shanghai, the Wuxi site is located in Centre 66, the largest retail and commercial landmark building in Wuxi's Central Business District offering excellent access to financial talent. Wuxi is one of China’s top 10 cities in terms of investment and economic vitality and has been designated a China Service Outsourcing Talent Training Centre by the Ministry of Commerce and Ministry of Education. It is also one of China's fastest growing second-tier cities.

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Notes for editors

UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets.

UBS is present in all major financial centers worldwide. It has offices in 54 countries, with about 34% of its employees working in the Americas, 35% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 13% in Asia Pacific. UBS Group AG employs approximately 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

In China, UBS has a multi-entity domestic platform which allows it to develop its core businesses – wealth management, asset management and investment bank. The establishment of UBS Securities represents the first time that a foreign-entity has been allowed to invest directly into a fully-licensed securities firm. UBS Securities holds 100% stake in UBS Futures Co., Limited. UBS (China) Limited is the wholly foreign owned bank focusing on wealth management business. UBS SDIC Fund Management Co., Ltd. is a joint venture with the State Development Investment Corporation in which, for the first time, a foreign partner holds the maximum 49% equity stake. UBS Global Asset Management (China) Limited in Beijing is engaged in domestic non-securities equity investment management and advisory services. UBS Asset Management (Shanghai) Ltd. in the Shanghai Free Trade Zone offers private funds for investing in overseas markets under the Qualified Domestic Limited Partner (QDLP) scheme. UBS Business Solutions Center China1 provides UBS businesses with service solutions support in and outside China.

www.ubs.com

 

Media contact

Joanna Sin: +86 1891 139 3363; joanna.sin@ubs.com
Susie Su: +8621 3866 8051; susie.su@ubs.com

 

1 Officially registered as "UBS Corporate Management (Shanghai) Co., Ltd."