UBS Wealth Management has appointed two country team heads for China based in Hong Kong, according to an internal note seen by Citywire Asia.
Starting January 2019, Ann Qian and Fritz Chan will lead two new teams for the Swiss wealth manager’s China international business.
Qian, who is a managing director, joined UBS in 2007 as a client advisor and has been a desk head for the China international team since 2011.
Prior to joining UBS, she worked for Industrial and Commercial Bank of China (ICBC) Asia and ICBC Zhejiang where she serviced financial institutions and multinational businesses.
Chan, meanwhile, joined UBS as a desk head for the China international team in 2013. In the past five years, he has also participated in the bank’s project teams to improve operations and has knowledge of front-to-back processes.
Before joining UBS, Chan was head of business wealth management at Barclays Wealth and a senior manager at BNP Paribas Wealth Management.
Both appointees will report to Marina Lui, head of China at UBS Wealth Management.
‘China represents one of the most important sources of business and growth opportunities for UBS Wealth Management,’ Lui wrote in the note.
The private bank’s China operations have attracted international attention in recent weeks after Chinese authorities asked one of its Singapore-based advisors to remain in the country.
According to media reports, this prompted UBS to issue an internal note to bankers recommending they delay travel plans to China. However, it has since rescinded the advice.