UBS, Switzerland’s largest bank and Asian leading bank in private banking, is close to completing a deal with Beijing Securities, reports Swiss Info. The deal would allow UBS to have 20% stake of the brokerage firm as the first foreign institution to get hold of a Chinese investment company.   When the deal is sealed, Beijing Securities would be renamed UBS Securities. The Swiss bank would be the first foreign company to be allowed to apply for licenses to trade in financial products on the Chinese market, according to the source. "It was our top priority to get our infrastructure right in China. We wanted to be treated as a domestic firm that can actually trade in securities "said Rory Tapner, chairman and chief executive of the Swiss bank's Asia Pacific division, on Wednesday. The International Finance Corporation (IFC), the private sector arm of the World Bank, has bid for a five per cent stake in Beijing Securities and plans to work with UBS to restructure the company.   Tapner added it was unlikely that any other bank would be granted the same treatment for at least 18 months, giving UBS an advantage to win over its competitors.