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UBS in talks to buy majority stake in China securities JV: CEO

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Mr Ermotti says UBS is ahead of its plan to double headcount in China over a five-year period, adding the bank may have 1,200 staff in China by the end of this year.

Hong Kong

UBS Group AG is in discussions to acquire a majority stake in its Chinese securities joint venture, chief executive officer Sergio Ermotti said, as global banks rush to take advantage of Beijing's pledge to further open its financial markets.

UBS has started talks with...

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