--UBS Group AG has entered discussions to acquire a 51% stake in its Chinese securities joint venture, Bloomberg reports, citing Chief Executive Officer Sergio Ermotti.

--Mr. Ermotti said UBS is ahead of its plan to recruit 600 new employees in financial positions in China over a five-year period as the country further relaxes its foreign ownership rules, according to Bloomberg.

--The move follows similar plans announced by global-securities companies such as Morgan Stanley and Goldman Sachs Group Inc., Bloomberg reports.

Full story: https://bloom.bg/2CDELfn

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(END) Dow Jones Newswires

January 08, 2018 03:56 ET (08:56 GMT)

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