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UBS to Set Up a Team Advising on China-Related M&A's [CN] [en]
26.08.10, China Daily
UBS AG will establish a mergers and acquisitions (M&A) team in China after the nation's share of global transactions more than doubled in the past three years. China accounted for 7.9 percent of the global value of deals so far this year, up from 3 percent in 2007.

EFG Bank Opens Representative Office in Shanghai [CN] [cn]
3.08.10, Phoenix News
EFG International announced that its business in Asia has opened a representative office in Shanghai. In August 2009, EFG International announced that its business in Asia, EFG Bank, had gained approval to establish a representative office in Shanghai, that was subject to final regulatory approval. The Swiss bank officially opened its Shanghai office this monthe, headed by Clement Lin.

UBS Turns to Asia [CH] [de]
25.07.10, NZZ
Swiss bank UBS, the top wealth manager in Asia, plans to hire 2,200 new staff in the region, the head of UBS in Asia Pacific said in a Swiss magazine interview. A move that will bring the bank back to its pre-crisis splendour. Chi-Won Yoon, who became Chief Executive of UBS Group Asia Pacific in June 2009, also said that the euro's gyrations could influence UBS' second quarter results, according to an article on the website of trade magazine "Schweizer Bank".

Chinese at the UBS Board of Directors [CH] [fr]
24.07.10, Yves Hulman, Le Temps
UBS will propose the election of Joseph Yam from Hong Kong at the next general assembly in 2011. Emerging countries are still poorely represented among companies in the Swiss Market Index.

UBS Nominates Joseph Yam to Join Board [CN] [cn]
23.07.10, Phoenix News
UBS AG said Friday that it has named former Hong Kong central banker Joseph Yam to join its board of directors at next year's annual meeting, a move reflecting the growing importance of the Swiss bank's Asian business that may also help to deepen trust in the bank's top echelon, analysts said.

UBS Names Former Central Banker Joseph Yam To Board [CH] [de]
23.07.10, NZZ
UBS AG wants Joseph Yam, founder and former Hong Kong central Banker, to join the board. The election will most likely be held during next year's annual meeting on 28 April 2011.

Risks in Chinese Bank System [CH] [de]
20.07.10, Peter Fischer, NZZ
A report released on Wednesday by Fitch, the credit ratings agency, said Chinese banks were increasingly engaging in complex deals that hid the size and nature of their lending, obscuring hundreds of billions of dollars in loans and possibly even masking a coming wave of bad real estate and infrastructure loans.

China Plans Weather Insurance to Help Farmers [CN] [en]
20.07.10, Hu Yuanyuan, China Daily
China may roll out its first weather insurance coverage before the end of the year to help farmers cope with economic losses from natural disasters. Global losses from natural disasters in 2010 could be three to five times what they were in 2009, said Thomas Hess, chief economist of the world's second-largest reinsurer, Swiss Re. Economically advanced nations tend to purchase more insurance coverage, which helps to finance the costs of reconstruction. Less developed economies can also benefit from insurance coverage, especially if the public and private sectors.

Bank of China Plans Capital Increase [CH] [de]
2.07.10, NZZ
The Bank of China, the fourth biggest financial institute of the People's Republic of China plans to make a captial increase of about 9 billions Swiss francs. The Bank of China already replenished its capital of 6 billions Swiss francs last June.

UBS AG Asia Investment Banking Chairman Henry Cai has Resigned [CN] [en]
2.07.10, China Daily
David Chin, Asia-Pacific co-head of investment banking at UBS AG, will serve as the Swiss bank's interim head of China investment banking, after high-profile dealmaker Henry Cai quit. Cai's resignation takes the number of high-profile exits from UBS's Asian operations to three in the past two months. UBS's domestic China business, which includes the local capital markets franchise UBS Securities, is led by Zhao Ju, who succeeded Cai as chairman of China investment banking when he was promoted to the wider Asia role last year.

Counting the Cost of Rising Wages in Chinese Industry [CN] [en]
30.06.10, China Daily
While China's economy continues to expand at a rapid pace, the wages of its tens of millions of migrant laborers have not increased at the same rate. The recent suicides at electronics manufacturer Foxconn and the strikes in a number of auto parts factories have led to rapid rises in wages as well as hot debate across the country as to how this new trend will impact on the Chinese economy. Economists said that although this trend will continue, foreign companies are unlikely to move out of China due to the many other advantages that the nation offers them. Wang Tao, head of China Economic Research, UBS Securities, shares her view among other experts.

Swiss RE Vice Chairman of the Board of Directors Mathis Cabiallavetta attends the Lujiazui Forum [HK] [cn]
26.06.10, Phoenix News
Co-organised by the Shanghai Municipal Governement and the People's Bank of China, the Lujiazui Finance Forum was held in Shanghai from the 25 to 26 of June. The forum on the topic "Structural Adjustment and Financial Reform After the Crisis", initiated discussions on how to further explore the potential changes and developments in the economy and financial world during the post-crisis era. Present at the Lujiazui Forum was also the Swiss RE Vice Chairman of the Board of Directors Mathis Cabiallavetta.

Geoff Riddel, CEO of Asia-Pacific and Middle East Zurich Financial Services Group attended the Lujiazui Forum in Shanghai. [HK] [cn]
26.06.10, Phoenix News
Chairman of Global Corporate and CEO of Asia-Pacific and Middle East, Zurich Financial Services Group, Geoff Riddel attended the discussions on the topic "Structural Adjustment and Financial Reform After the Crisis" during the Lujiazui Forum held in Shanghai from 25 and 26 June.

Experts Favor Gradual Stimulus Exit [CN] [en]
23.06.10, Ding Qingfen and Wang Bo, China Daily
China must gradually phase out stimulus policies and focus on boosting domestic consumption to maintain its strong growth momentum amid rising inflation and the unfolding European debt crisis. China unveiled a 4 trillion yuan stimulus package and directed nearly 9.6 trillion yuan of new lending into the market last year to prop up the slowing economy amid the global financial crisis. The mammoth stimulus has effectively bolstered economic growth, but also led to side effects like rising inflation and asset bubble risks. "The extent to which the yuan appreciates and helps in checking inflation would also help in delaying other tightening policies," said Wang Tao, chief economist with UBS Securities.

The Promised Relaxation of the Yuan Widely Welcomed [CH] [fr]
22.06.10, Pierre-Alexandre Sallier, Le Temps
The return to a rate of semi-flexible exchange opens - very gradually - the way for an assessment for the renminbi. The markets are already seeing a shift in favor of Western industrial that does not necessarily undermine China.

Housing Price Falls Likely as Cooling Measures Bite [CN] [en]
12.06.10, China Daily
Measures to rein in China's soaring home prices are beginning to see results, and price declines are expected in later half of the year, say economists and market watchers. "People are not expecting these measures to do immediate wonders on the market..., but if policy support continues, a price decline can be expected," said UBS Securities economist Wang Tao. The downturn would put no short-term pressure on construction, as the government was focusing more on building affordable homes, which would offset a decline in construction of commercial housing, said Wang. "Construction activities will eventually be influenced by the cooling measures and slow down six months later, while market demand for construction materials will fall at the same time," she said.

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