UBS Appoints Asia Asset Management Head
The asset management unit of UBS has hired an industry veteran to join as its head of Asia Pacific.
UBS has appointed Desmond Ng as asset management region head for APAC, according to a statement, effective October 1. He will also become a member of the unit's management team and the broader APAC management team. Based in Hong Kong, he reports to Aleksandar Ivanovic, president, UBS Asset Management and Iqbal Khan, co-president global wealth management and president UBS Asia Pacific.
In the role, Ng will drive the execution of UBS Asset Management’s APAC strategy, including the firm’s one-bank initiatives with the wealth and investment banking units in the region. He will work closely with teams in Asia to leverage the firm’s investment capabilities and meet the needs of the bank’s institutional, wholesale and wealth management clients in each market.
In China, he will also play a key role in exploring further opportunities to expand collaboration with onshore joint venture partners.
28-Year Veteran
Ng has more than 28 years of asset management experience, most recently as head of APAC at Allianz Global Investors. Prior to that, he was Greater China CEO at Invesco and held senior positions at J.P. Morgan Asset Management. He was also chairman of the Hong Kong Investment Funds Association from 2009 to 2011 and vice chairman from 2008 to 2009.
He takes over from James Benady and Thomas Kaegi, who have been leading the asset management team in APAC on an ad interim basis. Once onboarded, Ng will work closely with Benady, APAC regional operating officer and head global wealth management and wholesale client coverage APAC, and Kaegi, head asset management Singapore and Southeast Asia.
