UBS has rehired banker Steven Sun from Standard Chartered as chairman of its Financial Institutions Group in Asia, according to people familiar with the matter.
Sun will report to David Chin, co-head of UBS’s investment banking division in the region.
Sun has been at StanChart since October 2012 as head of its North Asia Financial Institutions Strategic Coverage group, where he helped deepen the British bank’s relationship with financial institution clients.
Before that brief stint, Sun was at Barclays between 2009 and 2011, where he helped build the bank’s team of advisors for financial institutions, known in the industry as a FIG team, initially as head of FIG for the Asia Pacific region and then as chairman of FIG.
He helped the group broaden its product offering from mainly debt capital markets transactions into M&A and equity deals. However, in September 2010, under the leadership of new investment banking head Matthew Ginsburg, Barclays hired Helge Weiner-Trapness as its new head of FIG for Asia-Pacific and gave Sun the role of FIG chairman.
He joined Barclays from UBS, where he was joint head of the Swiss bank’s Financial Institutions Group between 1999 and 2008. During his tenure he worked on landmark transactions such as Bank of China’s IPO in 2006 and StanChart’s purchase of First Bank in Korea.
Prior to that he worked at Merrill Lynch.
