He is the most important man of UBS' wealth management business in Asia: Edmund «Ed» Koh from Singapore. Now he takes another step up the career ladder.
UBS appointed Edmund Koh head of UBS Wealth Management Asia Pacific, the bank said in a statement on Wednesday. He replaces Kathryn «Kathy» Shih, who recently was promoted to the board as president of UBS Asia Pacific. Koh will start at his new job at the beginning of 2016.
Koh hitherto acted as UBS' man in Singapore, directing the bank's wealth management in Southeast Asia as well as China, Taiwan and Japan.
Oswald J. Grübel's Legacy
Originally, Koh didn't even plan to become a banker and studied psychology in Canada. The entrepreneurial spirit that had inspired his father made him rethink and take up a career in finance that has now spanned almost three decades. Kok worked for DBS Bank, Citigroup and Taiwan's Ta Chong Bank before joining UBS in 2012 as he explained in an interview with finews.ch at the beginning of the year. It was Oswald J. Grübel who conducted the first interviews with Koh.
Local Talent
The promotion of Koh is part of a trend, whereby Swiss banks tend to put local talents in charge of key positions in Asia. Reason for this is the tighter regulation but also the value of people with first-class relations to government representatives and authorities.
«Edmund is a seasoned banker who brings to the role a deep knowledge of banking and financial services in Asia Pacific,» Juerg Zeltner, president of UBS Wealth Management, was cited as saying in the press release. «His extensive experience in the financial industry and in the successful development of new markets, positions him well to lead UBS Wealth Management into the next phase in developing the strong position we have built in Asia Pacific.»
