UBS Group AG Eyes Full Ownership of Securities Joint Venture in China

Core Viewpoint - UBS Group AG is progressing towards full ownership of its securities venture in China, UBS Securities Co. Limited, following the decision of its joint venture partner, Beijing State-owned Asset Management, to sell a 33% stake for 1.5 billion yuan ($207.10 million) [1][2] Group 1: Strategic Actions in China - UBS is in the process of acquiring the remaining stake in UBS Securities to achieve 100% ownership, marking the second phase of its strategy to enhance operations and presence in China [2] - The first phase involved UBS divesting its stake in Credit Suisse Securities (China) Ltd. to BSAM in June 2024 [2] - The acquisition of Credit Suisse in 2023 allowed UBS to inherit Credit Suisse's securities unit, further emphasizing its focus on long-term growth in China [3] Group 2: Expansion Efforts in Other Markets - UBS is seeking a wider banking license in the United States, viewing it as a crucial market for growth, and is considering an application for broader operational permission [4] - The bank's long-term vision includes acquiring a U.S. wealth management firm to accelerate growth in the region, as stated by UBS Chairman Colm Kelleher in October 2024 [5] - UBS is also in discussions to form a wealth management joint venture in India with 360 One WAM, aiming to expand its services to high-net-worth individuals [6] Group 3: Market Performance - Over the past six months, UBS shares have increased by 3.8% on the NYSE, contrasting with a 9% decline in the industry [8]