Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Chinese request to speak to UBS banker unrelated to bank: CEO

Published 10/25/2018, 07:18 AM
Updated 10/25/2018, 07:20 AM
© Reuters.  Chinese request to speak to UBS banker unrelated to bank: CEO

ZURICH (Reuters) - UBS (S:UBSG) Chief Executive Sergio Ermotti on Thursday said a request by Chinese authorities that an employee delay her departure from Beijing was found to be unrelated to the bank or the employee.

"We know for sure at this stage it had nothing to do with the bank or with (the employee)," Ermotti said on a call with journalists on the sidelines of its investor day.

The bank had temporarily asked wealth management staff to reconsider any travel plans to China after local authorities last week asked one of its bankers to stay and meet with officials. It lifted the measure within 24 hours.

Ermotti added the matter was quickly clarified and the employee was never detained. Such situations happened routinely with others banks, he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.