China remains wealth creation hub: UBS chairman

SHANGHAI, Jan. 9 (Xinhua) -- "China continues to be the world's second-largest economy and a wealth creation hub, and is a key market for UBS," UBS Chairman Colm Kelleher said on Tuesday.

Kelleher made the remarks at UBS' 24th Greater China Conference, which was held in Shanghai.

The business leader said that the Swiss banking giant remains committed to its onshore growth strategy in China, and that it is in a unique position to provide access to China to international investors.

The bank will also continue to support Chinese companies and investors who want to go global, Kelleher said.

According to the UBS website, UBS' key businesses in China include wealth management, investment bank and asset management enterprises.

On the integration between UBS and Credit Suisse, the chairman said, "We have already achieved important milestones and aim to substantially complete the integration for the group by the end of 2026."

He said that after the acquisition of Credit Suisse, the growth ambitions for UBS are focused on wealth and asset management.

The Swiss federal government in March 2023 announced that Credit Suisse would be taken over by UBS.