Henry Cai resigns from UBS, Chin to take over in China

Henry Cai, UBS's chairman of Asia investment banking and head of investment banking for China, has resigned from the firm and is looking to take a break from the industry, sources said last night. David Chin, who is joint head of Asia investment banking, will take over Cai's investment banking responsibilities in China  with immediate effect.

Cai has been with UBS since March 2006 when he joined from BNP Paribas, initially as chairman of investment banking for China. He has played a big role in growing the firm's China business, by bringing home mandates and by teaching his fellow bankers how to go out and win business, and is described by some as...