Switzerland's biggest lender is the latest bank to announce reimbursement plans for employees who undergo Hong Kong’s strict 21-day quarantine.
UBS is reimbursing up to HK$2,000 ($256) per day to cover quarantine hotel expenses costs for Hong Kong-based employees to «reunite with immediate family» outside of the city, according to an internal memo seen by finews.com and confirmed by a spokesperson.
The reimbursement applies to full-time employees up to executive director level can total as much as HK$42,000 ($5,384) for a single trip. It is available until November 30 next year, barring an earlier relaxation of restrictions by the Hong Kong government.
UBS and a number of other global financial institutions have offered financial support to withstand the effects of Hong Kong's zero-Covid policy. At $5,384 UBS has taken a slight lead in single payout for quarantine costs, ahead of Morgan Stanley ($5,128), Goldman Sachs ($5,000) and J.P. Morgan ($5,000).
