Campbell Stewart has been promoted to head of metals and mining for Asia-Pacific at UBS.
UBS made the announcement yesterday in an internal memo signed off by Matt Hanning, co-head of investment banking, which FinanceAsia has seen. The move is a natural progression for Stewart, who is currently head of the resources team for UBS in Australia and head of UBS investment banking in Melbourne. The role became vacant when Patrick Loftus-Hills resigned from UBS to join boutique investment bank Moelis & Company.
Stewart, who is a 23-year veteran with UBS, will continue to be based in Melbourne and will undertake his new role in addition to his Australian roles. He has been closely involved in a number of the China-into-Australia deals in the metals and mining sector during the past few years. As such, he has been a frequent visitor to China and Indonesia, according to a source close to the development, and is familiar with some of the more active markets he is now taking responsibility for.
James Teo will continue to lead the UBS team in Hong Kong and China, a role he has held for the past 18 months as head of metals and mining for China. Shiau Sin Yen, meanwhile, has focused on transactions in mining in the rest of Asia, in particular in Southeast Asia and Mongolia, and will continue in this capacity. Both of them will functionally report to Stewart, the source added.