‘We were always here’: UBS CEO ups Hong Kong commitment despite US expansion

UBS, Switzerland’s largest bank, will keep investing in Hong Kong and mainland China, viewing the city as a gateway to tap the growing number of wealthy clients across the border, according to a senior executive. CEO Sergio Ermotti said the lender took a long-term view of its regional business rather than responding to short-term policy cycles, dismissing suggestions that its expansion in the United States would come at the expense of Asia. “The plans are the ones we had … in the last decades …...