UBS Wealth Management has handed the complete management of its global ultra-high net worth client segment to Ravi Raju as it changes co-head Amy Lo’s role.
Raju, who joined UBS from Deutsche Bank Wealth Management in January as co-head of the client segment, will now take on full responsibility of growing the business in Asia.
Amy Lo, who will continue as head of Greater China wealth management and country head, Hong Kong, has also been appointed chairman for Greater China.
Lo was head of the UHNW business for seven years, taking on the role in 2010.
UBS WM is ramping up its Greater China operations. Last year, it opened a second office in Hong Kong and wants to double its headcount in China by 2021.
‘Given the importance of Greater China as a key strategic market for UBS Wealth Management, and expectations that it will contribute over 60% of the wealth creation in Apac between now and 2020, we aim to achieve substantial growth in our business there over the next three years,’ the private bank said in a release.