UBS China suspends funds management project after Credit Suisse deal ...Middle East

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UBS China suspends funds management project after Credit Suisse deal
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UBS is pausing work on its application for a wholly owned mutual fund firm in China in order to finish its acquisition of Credit Suisse and address any regulatory concerns brought on by the union, reported Nikkei Asia quoting people familiar with the situation. The hasty acquisition of Credit Suisse in March hindered UBS's plans to grow its fund management business in China, where corporations are only allowed to hold one majority stake and one minority stake in the industry.

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