UBS Asset Management plans to increase China headcount

UBS Asset Management plans to expand its headcount in China, having secured its private-funds license earlier this month.

Bloomberg News reports that the firm has about 20 staff in China and plans to increase that to more than 30 people on the ground by the end of the year, according to Rene Buehlmann, head of Asia Pacific at the asset manager.

“We are hiring around portfolio managers, analysts, obviously, distribution people and we will further enhance as we go along when clients come on board,” said Buehlmann, who has recently made monthly visits to China.

The hiring is part of a broader plan by UBS Group AG to double staff in China over five years, as outlined by its chief executive officer Sergio Ermotti in 2016, according to Buehlmann. The group plans to add about 600 people across wealth management, investment banking and asset management, Ermotti said in January last year.

Hit the link below to access the complete Bloomberg News article:

UBS Asset Management Hiring in China Amid Race for Private Funds Share

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