UBS’ chairman, Axel Weber, believes the Swiss bank’s business model gives it a leg up on foreign retail-linked rivals with designs on China’s onshore private banking market, and that collaborations with domestic banks will result in cost efficiencies. “If you look at the strategy of HSBC, Standard Chartered and Citi, for example, their business model is to have an onshore…
UBS’ private banking play in China will be “cost effective”, says Axel Weber
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