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High tech costs pushing smaller private banks to exit, says UBS’ Shih

Rising tech-related costs, driven in large part by regulatory developments and the tech-savviness of investors, are forcing private banks to rein in expansion ambitions, says Kathy Shih, president of UBS Asia Pacific. “For some [private banks], the cost of technology has [proven] an existential threat,” Shih notes in a exclusive conversation with Asian Private Banker during the bank’s Future Finance Forum in Hong Kong. According…

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