UBS plans. Pei. UBS to give up his license, and the closure of banking unit in India, which provides services and fixed-income operations relating to trade in currency and credit services, depending on what made him a source familiar with the matter told Reuters on Saturday.
But the source, who asked not to be identified because the matter has not yet announced, he said that "Yu. Pei. Feed" will continue to provide its services to corporate clients, which include mergers and acquisitions services and services for equity and debt markets.
"This does not mean that we will close our operations in India, but will close and very small business unit to focus on the key strengths .. This is part of our global strategy," the spokesman declined to Yu. Pei. Feed to comment.
And the "U. Pei. Feed" license to all banking business in India, and has a branch and a single in Mumbai, and focuses on wealth management and currency trading and credit services, fixed income, and newspapers reported Indian on Saturday that the bank will hand over the work permit banking.
Earlier in the year, Morgan Stanley sold and private wealth management unit of Standard Chartered Bank, and suffer wealth management operations in Asia, rising costs and weak regulatory advisory services fees.
But the source, who asked not to be identified because the matter has not yet announced, he said that "Yu. Pei. Feed" will continue to provide its services to corporate clients, which include mergers and acquisitions services and services for equity and debt markets.
"This does not mean that we will close our operations in India, but will close and very small business unit to focus on the key strengths .. This is part of our global strategy," the spokesman declined to Yu. Pei. Feed to comment.
And the "U. Pei. Feed" license to all banking business in India, and has a branch and a single in Mumbai, and focuses on wealth management and currency trading and credit services, fixed income, and newspapers reported Indian on Saturday that the bank will hand over the work permit banking.
Earlier in the year, Morgan Stanley sold and private wealth management unit of Standard Chartered Bank, and suffer wealth management operations in Asia, rising costs and weak regulatory advisory services fees.
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