UBS Set to Acquire Full Ownership of UBS Securities

Beijing State-owned Assets Management (BSAM) is auctioning its 33% stake in UBS Securities, allowing UBS to potentially become the first foreign sole owner of a securities firm in China. UBS currently holds a 67% stake in the joint venture and plans to bid for BSAM's shares, priced at approximately 1.54 billion yuan ($212.5 million). If successful, this acquisition would further signal China's commitment to opening its financial markets, despite ongoing geopolitical tensions. UBS Securities, established in 2006, has been a significant player in China's financial landscape, becoming the first foreign majority-owned securities firm in 2018. The move follows UBS's recent merger with Credit Suisse and aims to consolidate its operations in China.