UBS’s wealth management business in India is to be wound down as the Swiss giant pivots from “capital-intensive” to “capital-light” businesses in line with its global strategy to reduce expenses by US$3.6 billion by 2015, according to a Hong Kong-based insider familiar with the situation. The source has told Asian Private Banker that UBS Wealth Management’s retreat stems from its decision…
UBS to close doors on India wealth management business
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