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...

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