Swiss bank UBS has build an Asian debt-financing group by combining its debt-capital market and leveraged-finance operations in the region.
The new department will integrate all of UBS’s Asian debt-capital markets businesses, including its cash and derivatives operations, special solutions group and structured-financing business, with the firm’s leveraged-finance origination team, the memo showed, according to an internal UBS memo quoted by news agency «Bloomberg».
The bank has hired Deepak Dangayach from Deutsche Bank to co-head the new division with Patrick Liu. Dangayach will join UBS in April, a speaker from UBS confirmed. Liu and Dangayach will report to Saurabh Beniwal and Joseph Chee, UBS’s co-heads of corporate client solutions for the region, and Gaetano Bassolino, who relocated to Hong Kong in November.
