UBS’s head of investment banking for Asia Pacific David Chin has stepped down after five years with the Swiss lender and a successor has been selected.
APAC investment bank head David Chin has resigned from UBS and will be succeeded by the region’s head of global markets Taichi Takahashi, according to a «Bloomberg» report citing an internal memo, effective November 1. Further changes in the APAC global markets unit will also be announced in «due course».
A spokesperson for the bank confirmed the contents of the memo.
Takahashi first joined UBS’s Tokyo office in 1994 as an equities trader before relocating to Hong Kong in 2012.
David Chin
Chin started his career at UBS in 1994 and after briefly retiring in 2015, he rejoined the bank in 2017 as its APAC head of corporate client solutions and was named the regional head of investment banking in 2019. Earlier this year, Chin also stepped down from his role as the country head of UBS’s China business.
In the second quarter this year, investment banking fees fell 57 percent at UBS in what chief executive Ralph Hamers called one of the most difficult periods in a decade for investors.
