UBS bolsters investment bank from rival’s ranks
(14 September 2017 – Asia) According to reports, UBS has poached a senior banker from Citigroup to fill a newly created position based out of Hong Kong.
The investment bank, Asia largest, has appointed Catherine Cai as executive vice chairman. She will commence her role in December, reporting to Andrea Orcel, the chairman of the division. Cai will oversee cross-divisional and global operations.
At Citigroup, Cai was most recently chairman and head of China investment banking. She also had a 17 year tenure at Merrill Lynch culminating as chairman and co-head of China investment banking.
In an internal memo, Orcel said “Catherine will be a key asset for us as we look to identify opportunities to further profitability, build out the business, press ahead with the strategic hiring plan and position UBS as the go to bank in the region.”
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