Paul Au moves to UBS

Following on the heels of Shahryar Mahbub, debt syndicate head Paul Au becomes the second Citi banker in as many months to cross over to UBS.

Paul Au, former head of Asia debt syndicate at Citi, has stepped down from his post to move to UBS where he will take on the same role as head of debt syndication. Au formally resigned from Citi last week and will start his new job with UBS in June.

Until a permanent replacement has been appointed for Au, Citi's debt capital markets syndicate desk will be led by Duncan Phillips. Phillips is currently head of the bank's Japanese syndicate desk and was brought over to Hong Kong earlier this month.

A source familiar with the team said Phillips is not there to formally take over the Asia role, but will co-manage the team with...

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