A day after Alexander Classen, the Swiss based chief executive of Coutts International rejected the top role of integrating his bank with its new owners, Eric Morin has been confirmed as the man to lead the UBP Asian operations.
With effect from May 11 Morin will begin the task of melding the Asian business units of Coutts with those of Union Bancaire Privee.
Geneva headquartered UBP said in a statement,” Eric Morin will have the responsibility of leading UBP's private banking operations in Asia until the completion of the integration.”
Morin will have the support of his former BNP Paribas colleague Michel Longhini, the duo worked together for several years in Singapore. Longhini has been private banking head at UBP since late 2010 and was previously CEO for Asia at BNP Paribas Wealth Management.
The sale to Union Bancaire Privee includes business managed from Switzerland, Monaco, UAE, Qatar, Singapore and Hong Kong. It comprises client relationships predominantly managed outside the British Isles and associated staff.
It is expected that the transition will be completed in Europe and the Middle East before the end of 2015 and in Singapore and Hong Kong by early 2016. At which point the businesses will adopt the name of the new owner.
