Edmund Koh and August Hatecke, who co-heads UBS’ wealth management arm from Singapore, will be in Sydney next week to hold one-on-one meetings with staff.
Two of UBS Asia’s most senior bankers are travelling to Sydney next week to meet Credit Suisse peers, as the Swiss bank advances its 3 billion Swiss franc Edmund Koh, the president of Asia-Pacific at UBS and a member of UBS’ executive board, along with August Hatecke, the co-head of wealth management for Asia will hold one-on-one meetings with Credit Suisse’s private bankers and senior management, people familiar with the talks who could not speak publicly, toldCredit Suisse’s private bank...
The arrival of Mr Koh and Mr Hatecke – both based in Singapore – also suggest Credit Suisse’s 110-strong Australian private banking team will sit within UBS’ Asia-Pacific operations, the people said. UBS Hong Kong country head Amy Lo, who also co-leads UBS’ Asia wealth management arm with Mr Hatecke, will not make the trip to Sydney, the people said.
Last month, Iqbal Khan and Francesco De Ferrari, UBS and Credit Suisse’s respective global wealth management heads, held a town hall-style meeting with both banks’ employees in Hong Kong. Mr Khan was focused on stabilising Credit Suisse in the region, and sought to reassure its Asia-based staff of UBS’ commitment to the geography, the insiders said.
UBS chairman Colm Kelleher viewed the Asia-Pacific as critical to the bank’s growth as individual wealth in the region is growing faster than anywhere else in the world. The Swiss bank generated about $US5.6 billion in revenues from the Asia-Pacific in 2022. That included $US2.6 billion from the wealth management arm.
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