SINGAPORE, Nov 22 (IFR) - Patrick Liu, co-head of UBS's
Asia debt financing group, and Paul Au, its co-head of
credit market syndicate for Asia ex-Japan, have both left the
bank, effective Monday.
Liu was co-head with Deepak Dangayach, after the debt
financing group was created in March this year to bring UBS's
bonds and loans businesses together, while Au was co-head with
Liu and Au were formerly co-heads of Asia DCM. Before
joining UBS, Au was Asia syndicate head at Citigroup.
Sources close to the situation said the UBS syndicate role
would be filled, but it was yet to be decided what would happen
to Liu's role. UBS is not expected to withdraw from any parts of
the DCM primary business in Asia, said the sources.
Sam Kendall took over as head of corporate client solutions,
UBS's name for its investment banking business, in Asia Pacific
in July and there has been a push towards integration and
collaboration across business lines.
The bank has also hired in sales and trading, both for
investment-grade and high-yield bonds, in Hong Kong in recent
A spokesman for UBS confirmed the departures but declined to
(Reporting by Daniel Stanton; Editing by Vincent Baby)