UBS appoints joint heads of China investment banking

UBS has appointed Wei Cai and Zhao Ju joint heads of China investment banking to fill the vacancy that was created when the former head, Henry Cai, resigned in late June. Wei Cai is joining from Morgan Stanley where he was head of the Asia-Pacific industrials and transportation group, while Zhao is taking on the new role alongside his current positions as head of UBS Securities, the bank’s capital markets franchise in China, and chairman of China investment banking.

Cai, who focused specifically on China while at Morgan Stanley, will also become vice chairman of Asia investment banking and will lead UBS Securities together with Zhao as the bank seeks to achieve greater coordination...