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[HONG KONG] UBS Group AG has appointed Joseph Chee and Saurabh Beniwal as co-heads of corporate-client solutions for Asia, almost six months after the former chief's retirement was announced.
The Swiss firm also appointed Jiang Guorong and Lauro Baja as vice-chairmen of corporate-client solutions for Asia, according to an internal memo. Rob Stewart, a Hong Kong-based spokesman for the firm, confirmed the document's contents.
Chee was UBS's head of global capital markets for Asia, while Beniwal led Southeast Asia corporate client solutions, according to the memo. The two fill a role vacated by David Chin, who spent 21 years at the Swiss investment bank, and whose retirement was announced in May. Chee and Beniwal will report to Matthew Hanning, Asia Pacific head of corporate-client solutions, Stewart said.
The corporate-client solutions group is responsible for mergers advisory, capital markets and financing for companies, financial institutions and private-equity firms.
The business came into being after UBS said in November 2012 that it would split its investment bank into two groups. The second unit - investor client services - encompasses equities, foreign exchange, precious metals, rates and credit.