Chi-Won Yoon becomes Hong Kong CEO at UBS

Yoon replaces Kathryn Shih who wants to spend more time focusing on her other job as head of UBS's private bank.
UBS has appointed Chi-Won Yoon as its new country head and CEO for Hong Kong, replacing Kathryn Shih who has decided to step down to focus all her efforts on her other role as head of the bankÆs rapidly growing Asia-Pacific wealth management business.

Shih has headed the bankÆs Hong Kong operations since 2003 and has helped position UBS as a leading financial firm in the city.

Yoon is head of Asia equities and has been alternate CEO for the Hong Kong branch since 2006. In his new role, he will be responsible for co-ordinating the bankÆs activities in Hong Kong across the different business lines as well as for strategic development, the management of the groupÆs relationship with the local regulators, community affairs and the coordination of senior management visits.

He will also represent Hong Kong on UBSÆs Asia-Pacific management committee and chair the local Hong Kong management committee. As country head he will report directly to Rory Tapner, the Asia-Pacific chairman and CEO.

Yoon has 22 yearsÆ experience in the financial services industry and has been in Hong Kong for 14 years. He became head of Asian equities in 2005 and, on his watch, UBS has been awarded the best equity brokerage house in Asia by FinanceAsia for three consecutive years. In addition to his day-to-day job he is a member of UBSÆs global investment bank people committee and chairman of the global investment bank recruitment board.

In a related move, the bank has appointed Allen Lo, head of wealth management for Greater China, as alternate CEO for the Hong Kong branch. It has also named Bahren Shaari, regional market manager of UBS wealth management, as alternate CEO for UBS Singapore following the appointment last week of Gerald Chan as new Singapore country head and CEO.
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