, Hong Kong
Photo courtesy of Li Yang.

Hong Kong bankers’ exodus accelerates amidst strict quarantine rules: report

UBS recently shifted to two senior bankers and might move eight more to China.

Tight quarantine restrictions and keenness to expand in the world’s second-largest economy are spurring global lenders to speed up the relocation of bankers from Hong Kong to China, reported Bloomberg, based on anonymous sources. 

UBS Group recently shifted two senior bankers and is in discussions to move another six to eight to China, according to sources, who asked not to be named discussing an internal matter.

Credit Suisse Group moved a handful of roles to China in recent months.

JPMorgan Chase & Co also reportedly plans to move more dealmakers to grow offices in Shanghai and Beijing, sources said.

Whilst global banks have been beefing up as China opened its US$54 trillion market further last year, the strict quarantine rules in Hong Kong and on the mainland are now accelerating a shift out of the financial hub.

Here’s more from Bloomberg.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Tempered adoption of AI tools may spell greater leap for fintech firms
Expert underscores generative AI’s strength in streamlining front-of-office work, but banks on human expertise for in-depth development.
Advisory takes centre stage in Danamon's next-Generation Branches
Danamon’s next-generation branches reshape banking by performing more advisory functions and improving customer experiences.