Swiss wealth management giant UBS have reportedly lost the head of corporate client solutions for Asia and will soon see the co-head of Investment Banking exit as well.
Saurabh Beniwal, the co-head of UBS' Asia Pacific Investment Banking business, will leave the bank in December, according to a «Reuters» report. The move leaves Joseph Chee as the sole head of the unit following Beniwal's departure.
The co-heads had filled the role vacated by David Chin, who had spent 21 years at the Swiss investment bank.
Based in Singapore, Beniwal only took up the current role last year and was previously the investment banking head for Southeast Asia, excluding Philippines. He joined UBS in 2000.
Wealth Departure
Beniwal's expected departure comes after Matt Hanning, UBS's head of corporate client solutions in Asia Pacific, left last month and was replaced by Sam Kendall.
Meanwhile there are reports that Nicholas Kourteff, the Executive Director for wealth planning, product management and distribution, has left UBS Wealth Management in Singapore after nine years with the bank.
