UBS to acquire the remaining 33% stake in UBS Securities from BSAM.

UBS, a multinational investment bank and financial services company, agreed to acquire the remaining 33% stake in UBS Securities, its securities joint venture in China, from BSAM, a Chinese sovereign wealth fund. Financial terms were not disclosed. “Moving to a full ownership position in UBS Securities marks an important milestone for our integrated strategy in the region, allowing us to further expand our investment bank and wealth management services in China. This will not only enable us to capture the vast business opportunities emerging from the opening of China’s financial sector but will also broaden our access to the unparalleled wealth creation through our world-class products, services and advice to clients.” Iqbal Khan, UBS President Asia Pacific and Co-President Global Wealth Management.