The global head of UBS investment bank Andrea Orcel has announced further changes in its Asia-Pacific investment banking franchise, which he describes as critically important to the overall success of its operation.
Following the recent announcement naming Sam Kendall as head of corporate client solutions for Asia-Pacific, Orcel says in an internal memo seen by The Asset that the bank is strengthening its coordination efforts in the region with the appointment of Matthew Grounds as chairman of the Asia-Pacific investment banking.
Grounds will take on this position in addition to his current responsibilities as country head of Australasia, and will continue to report to Orcel.
In this new role, Grounds will serve as chairman of the investment banking management and risk committee for the region. He will support UBS’ regional business heads to better coordinate investment banking matters for Asia-Pacific, focus on unifying the various business lines and provide a holistic approach to how it tracks and manages risk in the current operating environment.