Former Credit Suisse APAC asset management head exiting UBS – sources

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HONG KONG: Former asset management head of Credit Suisse in Asia Pacific, Min Huang, is leaving UBS as the bank embarks on reviewing its China business post global leadership changes, three sources with knowledge of the matter said.

Huang was appointed China client coverage head for UBS Asset Management in June last year when the Swiss banking giant unveiled regional leaders.

UBS declined to comment and Huang did not immediately respond to Reuters request for comment.

The departure of Huang comes as UBS reviews its China setup amid a global leadership change and as it consolidates senior-rank managers in asset management in the market, said the sources who declined to be named as the information is confidential.

Prior to taking up the senior role under UBS in China, Huang was the top boss heading Credit Suisse’s asset management business in Asia Pacific.

UBS says it is determined to grow in a $9.7 trillion China asset management market.

The bank has “a huge opportunity” to expand its business across investment banking, wealth management and asset management in China, Eugene Qian, China country head of UBS said earlier this month.

The bank has yet to make clear its asset management growth roadmap in China. UBS had to shelf a plan to set up a new China fund unit, Reuters reported last July.

The banking giant on Wednesday appointed insider Aleksandar Ivanovic as the new global head of its $1.6 trillion asset management business, taking over in March from incumbent president Suni Harford after she retires.

Ivanovic will be running a key UBS division – which generated 6.5 percent of UBS’s revenues in the third quarter of 2023 – but one that is much smaller than its wealth management business, which contributed 50 percent of UBS’s revenues in that quarter.

UBS was pushed into a takeover of its arch-rival Credit Suisse in March last year in a $3.46 billion rescue deal. The following integration process is a multi-year task involving thousands of job losses.

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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