UBS names wealth leaders in Singapore as Jacky Ang departs

UBS Group divided up wealth leadership roles in Singapore as senior banker Jacky Ang departs less than two months after the takeover of former rival Credit Suisse.

Ang, a managing director who has spent more than 25 years at Credit Suisse, will be leaving to pursue outside interests, according to a memo seen by Bloomberg News. Alain Bernasconi will be Singapore branch manager for Credit Suisse, one of the roles that Ang held, subject to regulatory approvals.

A UBS spokesperson confirmed the contents of the memo. 

The appointments underscore how management changes in the wake of the mega-merger are extending to Singapore, a major private banking hub in Asia. Earlier this month, UBS revamped the leadership of its Middle East wealth unit and named new management for its Latin America businesses.

As part of the reshuffle, Dominique Boer will now oversee the Credit Suisse wealth management business in the city-state, according to the memo signed by Young Jin Yee, co-head of UBS wealth management in Asia-Pacific. 

David Leung, treasury head and senior manager for equity derivatives and fixed income products at Credit Suisse Investment Bank, will become senior corporate officer of another Singapore entity. BLOOMBERG