UBS appoints new head of CCS for APAC
UBS is bringing back David Chin to become head of corporate client solutions (CCS) for Asia-Pacific, two years after his departure from the Swiss investment bank.
This comes as the current head of CCS for the region, Sam Kendall, is relocating to New York to focus on his role as head of global equity capital markets (ECM).
A UBS memo seen by The Asset describes the Asia-Pacific CCS business as important and a key driver for the overall performance of the investment bank in the region. It says the US is a critical market for the bank, but one where it has been historically underweight in ECM, as opposed to EMEA and Asia-Pacific. It adds it will seek to further consolidate its strength outside of the Americas and grow profitably in the US region.
The memo notes the contribution that Kendall and the wider CCS team have made to the business during the past 12 months, having fulfilled their mandate of repositioning UBS’ Asia business to better align it to both the rapidly changing needs of its clients and a more challenging environment.
At the same time as improving core profitability, the team has enhanced the bank’s ability to grow, broadened its offering and enhanced its performance outside its main China hub.
Chin will start in early September and focus on accelerating UBS’ investments to deliver profitable growth from the strong base that the bank has established across Asia-Pacific, particularly in China. He first joined UBS in 1994, and was head of CCS Asia between 2009 and 2015.
14 Aug 2017