ZURICH (Reuters) – UBS <UBSG.S> Chief Executive Sergio Ermotti on Thursday said a request by Chinese authorities that an employee delay her departure from Beijing was found to be unrelated to the bank or the employee.
“We know for sure at this stage it had nothing to do with the bank or with (the employee),” Ermotti said on a call with journalists on the sidelines of its investor day.
The bank had temporarily asked wealth management staff to reconsider any travel plans to China after local authorities last week asked one of its bankers to stay and meet with officials. [nL3N1X32KO] It lifted the measure within 24 hours.
Ermotti added the matter was quickly clarified and the employee was never detained. Such situations happened routinely with others banks, he said.
(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)