UBS warns staff over China travel after banker held in Beijing: source
22 Oct 2018

Swiss bank UBS Group AG. (UBSG.S) has asked its China wealth management staff to reconsider their travel plans to the country after authorities there asked one of its bankers to delay her departure from Beijing to meet with local officials, a person familiar with the matter said.

The banker, who is based in Singapore and works in the relationship management team in UBS’s wealth management unit, still has her passport, but was asked to remain in China and meet with local authority officials next week, the person said. The identity and position of the banker were not known.

The purpose of the meeting with authorities is not clear, but the bank has asked others in its China wealth management team to review their travel plans carefully.

– By Jennifer Hughes, Tony Munroe, Reuters. 20 October 2018

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