UBS is rejigging its equity capital markets arm in Asia, marking the return of a veteran of the Swiss bank to the region as the unit's new head.
The Zurich-based bank named Hannah Malter head of equity capital markets syndicate in Asia, according to a memo seen by finews.com. The 11-year UBS veteran replaces Andrea Casati and will report to Gaetano Bassolino, the Swiss bank’s head of capital markets in Asia.
UBS is currently appealing a suspension from sponsoring initial public offerings in Hong Kong. It is one of more than a dozen firms being probed over what the Securities and Futures Commission alleges are shoddy IPO practices.
The appointment, first reported by «Bloomberg», marks a return to UBS' Asian equity syndicate desk for Malter, who moved to New York to work on UBS' Americas syndicate team in 2013.
Musical Chairs
At the same time, Casati was named vice-chairman of Asia-Pacific equity capital markets and tasked with senior coverage of priority clients in all industries. He was appointed equity capital markets syndicate head only last year following the departure of Damien Brosnan.
A spokesman for the bank also confirmed that equity capital markets banker Sunil Dhupelia left UBS. Dhupelia is jumping Swiss rival Credit Suisse, according to media reports, where he will stand in for Tucker Highfield, the bank's head Asia equity syndicate banker who has reportedly defected to Bank of America Merrill Lynch.
