As Credit Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies' desire to spread their business.
BEIJING/HONG KONG (Reuters) -UBS is selling a partial stake in one of its securities joint ventures to Beijing State-owned Asset Management (BSAM), a key step for the Swiss bank as it consolidates operations in China after its merger with Credit Suisse. Its joint venture partner Founder Securities said in a filing on Monday that Founder would offload its entire holding of 49% in the joint venture, at a price of 885 million yuan ($122 million). Meanwhile, UBS is selling a 36.01% stake in the venture to BSAM for $91.4 million, the Swiss bank said in a separate statement.
UBS analysts have provided insights into the key questions investors face in the second half of 2024 and into 2025.