Geneva-based UBP has reorganized its investment services unit in Asia with greater localization of the top roles.
Edouard Hoepffner, senior managing director and head of investment services Asia at UBP, is stepping down, according to an internal memo seen by finews.asia.
Hoepffner has worked at UBP for seven years after joining via acquisition from Coutts where he spent four years. Previously, he also worked at Daiwa, Bank of America Merrill Lynch and Deutsche Bank.
Localized Roles
Hoepffner will stay with the bank until May to support a transition that involves a reorganization of the investment services unit and the elimination of its regional role in Asia.
Under the new structure, Paras Gupta has been appointed head of investment services Southeast Asia. Based in Singapore, he reports to investment management head and asset management co-CEO Michaël Lok as well as Southeast Asia regional head Eric Morin.
Ivan Wong will assume the role of interim head of investment services North Asia, based in Hong Kong, with a permanent head joining in the coming months.
Leadership and Accountability
The newly localized roles will lead discretionary portfolio management, investment specialists and investment advisory teams in their respective sub-regions. They will also work closely with the treasury and trading (T&T) department to provide structured products advice.
«In the current market environment, it is more important than ever that our investment teams are set up to deliver compelling solutions attuned to local needs,» said the memo authored by Lok and Asia CEO Michael Blake.
«After much reflection, we have concluded that this critical objective can be better delivered through a new organizational structure for investment services in Asia, with leadership and accountability for the development and delivery of investment solutions more firmly anchored in our Hong Kong and Singapore offices rather than at a regional level.»
A spokesperson for the bank confirmed the contents of the memo
