October 23, 2018 / 3:55 AM / a month ago

UBS says it allows staff to travel "freely" to China after banker's delayed departure

HONG KONG, Oct 23 (Reuters) - UBS allows all its staff to travel "freely in and out" of China and it is business as usual there, the Swiss bank said, after authorities there last week asked one of its bankers to delay her departure from Beijing to meet with local officials.

That move by the Chinese authorities led to UBS asking its wealth management staff to reconsider their travel plans to China, a person familiar with the matter told Reuters Saturday.

"UBS would like to confirm that we allow all our staff to travel freely in and out of the country and it is business as usual for us in China," the bank said in a statement issued to Reuters.

"UBS has had a strong franchise in China for 30 years and remains fully committed to further developing our business on the mainland."

Reporting by Jennifer Hughes and Sumeet Chatterjee

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