Swiss wealth management giant UBS, who posted their second quarter figures last week, have reportedly lost the head of corporate client solutions for Asia and will soon see the co head of Investment Banking leaving the business.
A report from news agency «Reuters» claims that Saurabh Beniwal, the co-head of UBS' Asia Pacific Investment Banking business, is to leave the bank in December 2016. The move will leave Joseph Chee as the sole head of the unit.
The co-heads had filled the role vacated by David Chin, who had spent 21 years at the Swiss investment bank.
Based in Singapore, Beniwal, who took up the current role last year and was previously the investment banking head for Southeast Asia, excluding Philippines. Beniwal joined UBS in 2000.
Wealth Departure
Beniwal's expected departure comes after Matt Hanning, UBS's head of corporate client solutions in Asia Pacific, left last month and was replaced by Sam Kendall.
Meanwhile there are reports that after nine years with the bank, Nicholas Kourteff, the Executive Director for wealth planning, product management and distribution has has left UBS Wealth Management in Singapore.
