UBS bucks trend, keeps US$2mil bar for rich clients

HONG KONG: UBS Group AG has no plans to follow other banks and raise the US$2mil threshold for access to its private banking services, the Swiss bank’s China head of global wealth management said.

“This is not under discussion,” said Marina Lui in an interview in Hong Kong, asked about moves by other banks to raise the minimums required from private clients. “We don’t want to limit ourselves, a US$2mil client can become a US$2bil client overnight.”