World Economy

UBS to Double China Staff

UBS to Double China StaffUBS to Double China Staff

UBS Group AG will double its staff in China over five years, adding about 600 people as Chief Executive Officer Sergio Ermotti bets a time of volatile markets is as good as any for ramping up operations. “China is not on its own with those challenges,” Ermotti said in an interview with Bloomberg Television in Shanghai on Monday. “Those are also the good times to plan for the future, and that’s the reason why we are starting to implement our strategic plan.” The staff increases will be across wealth management, investment banking, equities, fixed income and asset management, Ermotti said.