Yang Changpo, a Beijing-based partner at Goldman Sachs, has retired from the position after more than seven years with the firm.
Bloomberg News reports that the 59-year-old executive, who joined Goldman Sachs in October 2006, will continue to work for the bank as an advisory director and will pursue charitable activities involving health care in China.
Yang becomes the third Beijing-based partner to step down from his position since December 2011.
In the meantime, Reuters reports that Roberto Speranza has become UBS's sole head of EMEA financial institutions debt capital markets business after co-head Robert Ellison left the firm, according to an internal memo seen by IFR.
Ellison, who had been at UBS for 13 years, left the bank to pursue outside opportunities according to the memo. Ellison's exit at the end of December follows a string of departures in the bank's financial institutions group (FIG) business.
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