UBS - UBS Eyes Strategic Alliances With China's ICBC Amid Global Expansion: Report | Benzinga
UBS Group AG (NYSE: UBS) has reportedly inked a memorandum of understanding with Industrial And Commercial Bank Of China Ltd.(OTC: IDCBY) (OTC: IDCBF) to look for strategic alliances in China and overseas markets.
The banks are considering collaboration in areas such as asset management, wealth management, and investment and corporate banking, Reuters reported.
The agreement encompasses product creation and distribution, client engagement, global market transactions, research, investment strategies, financing, asset safeguarding, and knowledge sharing, the report added.
In a strategic move last June, ...