UBS announced in the early hours of yesterday morning that it has appointed Alex Wilmot-Sitwell as co-chairman and co-CEO for Asia-Pacific. He will share the role with Chi-Won Yoon who has handled this job on his own since June 2009 when he took over from Rory Tapner who left UBS after 25 years with the firm.
Sources say this is a positive move for the bank’s operations in Asia as it means the region will now have two senior representatives on the group executive board Yoon and Wilmot-Sitwell are both members. This should put Asia in a strong position when it comes to arguing for additional resources and more access to the bank’s balance...
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