UBS Bucks Trend, Keeps $2 Million Bar for Rich Clients
- Cites example of Chinese client enriched by company listing
- China head of global wealth management speaks in interview
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UBS Group AG has no plans to follow other banks and raise the $2 million threshold for access to its private banking services, the Swiss bank’s China head of global wealth management said.
"This is not under discussion," said Marina Lui in an interview in Hong Kong, asked about moves by other banks to raise the minimums required from private clients. "We don’t want to limit ourselves, a $2 million dollar client can become a $2 billion dollar client overnight."