UBS Investment Bank has appointed Catherine Cai to the new position of executive vice chairman. She will report to Andrea Orcel, president of UBS Investment Bank.

Cai will join in December and have a cross-divisional and global remit, so as to effectively leverage her experience and network to help build out UBS’ strategic dialogue with clients at both the C-Suite and Board level, according to an internal memo seen by The Asset.

Based in Hong Kong, but with a global and business wide remit, Cai will serve as a member of the APAC CCS (Corporate Client Solutions) Management Committee as well as the Global CCS Management Committee.

She joins from Citigroup, where she was most recently the chairman of China Investment Banking and head of China Investment Banking. Prior to this, Cai was at Merrill Lynch for more than 17 years, ultimately holding the position of chairman and co-head of China Investment Banking.

The appointment follows other recent key hires of David Chin as head of CCS APAC and Aidan Allen as co-head of CCS ANZ.