Switzerland's UBS made a raft of changes to its private banking leadership structure in Asia. The appointments come three months after a Swiss banker and an Asian veteran took over the unit.
Amy Lo and August Hatecke on Wednesday unveiled their first major organizational shake-up since the two began sharing power under a co-head structure at UBS at the start of this year.
In an internal memo circulated by Lo and Hatecke, seen by finews.asia, the following changes were announced effective April 1:
- Adeline Chien, promoted to head of wealth management for Hong Kong domestic, from regional market manager, or RMM
- David Man, lifted to head of wealth management Taiwan international, from RMM
- Frank Niedermann, named head of wealth management Asia-Pacific Switzerland, from RMM
- LH Koh, promoted to head of wealth management for China international, from RMM of Hong Kong domestic and Japan
- Marina Lui is in a newly-expanded role as head of wealth management China, in which she will oversee both domestic and international, «to ensure the delivery of an effective and coordinated onshore and offshore coverage critical to this crucial market,» the memo stated. Long considered Lo's most trusted lieutenant, Lui will also have oversight of Koh, who will have an additional reporting line to her. In addition, Lui is also the wealth unit's location head in Hong Kong.
- Raymond Ang, promoted to head of wealth management southeast Asia and the unit's Singapore location head. He is currently head of ultra-high net worth clients in the wider southeast Asian region. Dino Rinaldi, the operating head of Singapore wealth, will succeed him, and report to Ravi Raju.
