UBS names heads from Credit Suisse for Asia global banking team

Kuan-Ern Tan, former co-head of investment banking for Asia-Pacific at Credit Suisse, has been named co-head of Asia coverage with John Lee, the existing head of Greater China. Tan will also partner with Nicolo Magni to build a “leading franchise” in Southeast Asia and South Asia, the memo said. Kyungin David Lee is appointed head of global banking for Korea and vice chair for Asia to help cross-border activities between North Asia and Southeast Asia. Christian Deiss, a more than 24-year veteran at Credit Suisse, was made co-head of global industrials group for Asia with Eileen Chan, according to the memo. UBS is looking to retain more than 100 Credit Suisse bankers in some Asian countries and Southeast Asia, seeking to shore up talent in products and markets where its Swiss rival has stronger presence.

UBS Group AG reshuffled its Asia global banking division, appointing some senior Credit Suisse Group veterans to help bolster coverage and sector expertise across the region, according to an internal memo.

Kuan-Ern Tan, former co-head of investment banking for Asia-Pacific at Credit Suisse, has been named co-head of Asia coverage with John Lee, the existing head of Greater China. Tan will also partner with Nicolo Magni to build a “leading franchise” in Southeast Asia and South Asia, the memo said.

Kyungin David Lee is appointed head of global banking for Korea and vice chair for Asia to help cross-border activities between North Asia and Southeast Asia. Christian Deiss, a more than 24-year veteran at Credit Suisse, was made co-head of global industrials group for Asia with Eileen Chan, according to the memo.

UBS is looking to retain more than 100 Credit Suisse bankers in some Asian countries and Southeast Asia, seeking to shore up talent in products and markets where its Swiss rival has stronger presence. The bank is also weighing a plan to cut about 200 Credit Suisse bankers in Asia over the next couple of months, people familiar said yesterday.

A Hong Kong-based spokesman confirmed the contents of memo.