HONG KONG, Sept 5 (Reuters) - UBS Group’s star China banking research analyst Jason Bedford, who made a mark with his deeply researched thematic reports on the sector, is leaving the Swiss bank, a person with direct knowledge of matter told Reuters.
Hong Kong-based Bedford has been with UBS for more than five years after having previously worked at KPMG, where he was involved in financial advisory, audit and management consulting services.
The Canadian analyst, who speaks mandarin, is known to pore over every page of hundreds of Chinese banks’ financial statements to write broader research reports flagging distressed debt trend and systemic risks in the sector.
Bedford declined to comment, but his LinkedIn profile said that he was on “garden leave”, the notice period after an employee resigns. A spokesman for UBS in Hong Kong also declined to comment on the move.
In a July research report, Bedford analysed the financial statements of 245 banks to show that 24 banks with assets of 3.8 trillion yuan ($536 billion) were at risk due to their weaker capital position.
$1 = 7.0928 Chinese yuan renminbi Reporting by Sumeet Chatterjee; Editing by Sriraj Kalluvila