A UBS investment banker who rode the boom in derivatives is trying his hand at wealth management. How does he plan to convert from trading-driven to trusted adviser?
Johnny Yu, who sold derivatives in Asia for UBS for the last 14 years, began as a desk head for the Swiss bank's wealth management arm last month, according to his LinkedIn profile.
Yu's moniker is «King of Warrants,» according to «Bloomberg», which first reported the move, because of his success in wooing affluent retail investors in Hong Kong to the financial instruments.
Hiring Plans
At UBS, Yu plans to recruit as many as eight private bankers, he told the news agency, and focus on high net worth Hong Kong clients.
The long-time investment banker, who also worked for Credit Suisse First Boston in London as well as accounting firm PwC, plans to parlay his contacts from selling derivatives into a budding wealth management career.
