UBS lets top Asia bond duo go

UPDATED: UBS lets veterans Paul Au and Patrick Liu go, reflecting a strategic shift in focus towards building a trading-oriented platform in the secondary markets.

UBS's Asia ex-Japan head of credit market syndicate, Paul Au, was let go by the bank on Monday, according to sources familiar with the situation His origination counterpart, Patrick Liu, co-head of Asia debt financing group, also departed the same day, the sources added

A Hong Kong-based spokesman for UBS confirmed the departures on Tuesday  

The departures come less than nine months after the Swiss lender created a new Asia debt-financing group by merging its debt capital markets and leverage finance operations in the region in March

It is not immediately clear whether their departures are related to UBS's recent efforts to restructure...

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