UBS to double China staff as it implements its 'strategic plan'

Beijing

UBS Group AG will double its staff in China over five years, adding about 600 people as chief executive officer Sergio Ermotti bets a time of volatile markets is as good as any for ramping up operations.

"China is not on its own with those challenges," Mr Ermotti said in a interview with Bloomberg Television in Shanghai on Monday. "Those are also the good times to plan for the future, and that's the reason why we are starting to implement our strategic plan."