UBS Group AG has imposed a work-related travel ban on its staff within the Middle East and postponed a wealth management event that was due to take place in Qatar this month as a conflict between Israel and Hamas militants escalates.
The Swiss bank, which has hundreds of staff across in countries such as the United Arab Emirates and Qatar covering wealth management and investment banking, told employees to stop business travel within the region, according to an internal memo that was seen by Bloomberg and confirmed by a UBS spokesman.
