UBS reshuffles Asian wealth management team

UBS_branchSwiss bank UBS is undergoing a major restructuring of its wealth management business in Asia. The move is being led by the two co-heads of the global business, Iqbal Khan and Tom Naratil, with the aim of making the Asian unit more cost efficient. The Asia Pacific wealth business will be led by two new co-heads Amy Lo and August Hackete while former Taiwan head David Man has been appointed as vice-chairman of wealth management for Greater China. Meanwhile the former head of the China business, LH Koh, has been appointed as co-head of the APAC family office alongside its existing head Anurang Mahesh. Koh’s former role will now be taken by Marina Lui who will oversee the bank’s international business in China. And Francis Lui is set to take over from Man as the head of the Taiwan unit. Other appointments include Adeline Chien as sector head for Hong Kong and Southeast Asia, Patricia Quek as sector head for Singapore and Malaysia, Tina-Ong Foo as sector head for Thailand and Philippines and Raymond Ang, sector head for Indonesia, Greater China and offshore Japan. Alongside the new executive appointments, UBS is also set to announce a number of job cuts among its Asian management team as part pf an effort to shed 500 jobs across its global wealth management business. ©2020 funds global asia

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