Kevin Cui and Terry Schmassmann have been promoted to become co-heads of Asia debt capital markets (DCM) syndicate at UBS, according to an internal memo seen by FinanceAsia on Wednesday.
The appointments are the latest step in the Swiss lender's drive to streamline its banking business in Asia as it seeks to boost efficiency. In March, UBS announced it would merge product teams for running equity and debt deals in the region into a single unit.
"Kevin and Terry will be focused on building UBS’ presence and visibility with Asian clients by working closely with origination and sector teams, and continuing to deliver seamless DCM execution," according to the memo, jointly signed by head of Asia-Pacific capital markets Gaetano Bassolino, global head of syndicate Armin Peter and Tim Galt, head of Asia-Pacific DCM syndicate.
The two Hong Kong-based bankers report to Galt, who relocated from Sydney to Hong Kong last year.
Cui joins the bank in August last year from Credit Suisse, where he was most recently a vice-president in the debt capital markets origination team, according to his LinkedIn profile.
Schmassmann rejoined UBS in April last year, relocating from Zurich to Hong Kong to cover Asia debt markets, his LinkedIn profile shows. He briefly left the banking industry for five months to become a linguistics student at the Vietnam National University. His first stint with UBS ran for more than six years from September 2009 to January 2016, when he covered emerging markets and sovereigns, supranational and agencies.
UBS in April appointed Hannah Malter as head of its ECM syndicate in the region.
According to Dealogic, UBS ranked 12th in the Asia ex-Japan G3 league table last year, underwriting $9.5 billion in 123 deals. The bank has slipped by one notch to 13th so far this year, with $3.25 billion in 44 transactions.