UBS CEO Ermotti clarified on Bloomberg TV that the bank will not add 100 staff solely in China. Instead, the firm plans to recruit 100 front‑office employees across its APAC wealth‑management unit this year. The announcement came amid growing scrutiny of the bank’s global expansion strategy and a broader push to strengthen client service in the region.

By spreading hires across multiple markets, UBS aims to balance talent demand with regulatory constraints and local market dynamics. Analysts note that the move signals confidence in Asia’s wealth‑management growth, especially in Singapore and Sydney, where the firm already has a strong presence. The decision also reflects a shift away from concentrated hiring in China, where political and economic uncertainties have prompted firms to diversify their talent pipelines.

UBS’s plan aligns with industry trends that favor flexible, region‑wide staffing models to capture emerging opportunities while mitigating risk. Investors will watch how the new hires impact the bank’s revenue mix and client acquisition in the coming quarters.