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Global banks curb China travel after UBS banker stopped from leaving
Source: Reuters
WEALTH OCTOBER 22, 2018 / 6:25 AM / UPDATED 21 MINUTES AGO
Global banks curb China travel after UBS banker stopped from leaving
Sumeet Chatterjee, Clare Jim
4 MIN READ
HONG KONG (Reuters) - Global banks including Citigroup and Standard Chartered have asked their private banking staff to postpone or reconsider travel to China after authorities there prevented a UBS banker from leaving the country, sources said.
BNP Paribas and JPMorgan have also asked their private banking employees to reconsider their China travel plans after the authorities’ action against the UBS banker, two people familiar with the matter said.
Swiss private bank Julius Baer, which manages assets worth $390 billion globally, has asked staff to be cautious about China travel plans, a separate person familiar with the matter told Reuters.
The Singapore-based UBS banker, who is a client relationship manager in the Swiss bank’s wealth management unit, still has her passport, but was last week asked to delay her departure from Beijing and remain in China to meet with local authority officials this week. Her identity was not known.
-snip-
Global banks curb China travel after UBS banker stopped from leaving
Sumeet Chatterjee, Clare Jim
4 MIN READ
HONG KONG (Reuters) - Global banks including Citigroup and Standard Chartered have asked their private banking staff to postpone or reconsider travel to China after authorities there prevented a UBS banker from leaving the country, sources said.
BNP Paribas and JPMorgan have also asked their private banking employees to reconsider their China travel plans after the authorities’ action against the UBS banker, two people familiar with the matter said.
Swiss private bank Julius Baer, which manages assets worth $390 billion globally, has asked staff to be cautious about China travel plans, a separate person familiar with the matter told Reuters.
The Singapore-based UBS banker, who is a client relationship manager in the Swiss bank’s wealth management unit, still has her passport, but was last week asked to delay her departure from Beijing and remain in China to meet with local authority officials this week. Her identity was not known.
-snip-
Read more: https://www.reuters.com/article/us-ubs-group-china-banker/global-banks-curb-china-travel-after-ubs-banker-stopped-from-leaving-idUSKCN1MW1AU
