UBS has been mum about where its most recent prominent hire – previously Deutsche Bank’s private banking head in Asia – will fit in the Swiss bank. finews.ch reveals details of his new role.
The Zurich lender’s hire of Ravi Raju last month was a coup, leading Deutsche to scramble to stanch potential damage from the move.
Raju previously led an entire wealth management region – albeit at a far smaller competitor. Thus, the question of where he would fit into the giant Swiss bank’s hierarchy was a somewhat delicate one.
Raju is being hired as head in Asia of ultra-high net worth, or UHNW, clients, an industry source told finews.ch. He will report to overall Asia private bank head Edmund Koh when he begins at the Swiss bank in January.
That means Raju takes on a role vacated by former UHNW head for Southeast Asia, Joseph Poon, and then some.
Poon left UBS in May after a cost-cutting and business review, joining DBS as head of Southeast Asia in August.
