UBS creates new Asia debt-financing group

The Swiss banking giant is merging its debt capital markets and leverage finance operations.

UBS has created a new Asia debt-financing group by merging its debt capital markets and leverage finance operations in the region, according to an internal memo seen by FinanceAsia on Thursday.

Patrick Liu and Deepak Dangayach will be co-heads of the newly created unit, the statement said. Prior to the appointment, Liu was the co-head of debt capital markets for Asia, while Dangayach will join the firm in April from Deutsche Bank.

UBS's latest move to streamline the investment banking operations come after the Swiss bank last month imposed a global pay freeze on its 5,200 investment banking staff, which will be reviewed in the...

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