UBS is adding to its ranks of senior investment bankers in Asia for the first time since the global financial crisis, seeking to wring market share in dealmaking away from competitors that are reorganizing.
Bloomberg News reports that the bank recently hired three managing directors and one executive director in the region and plans to add roughly another dozen bankers of similar seniority over the coming 12 months, said Matt Hanning, the head of UBS’s investment bank in the Asia-Pacific region.
The additions will be made through recruiting as well as promoting and replacing existing managers, he said.
With the hiring plan, Hanning is aiming to add to that momentum as European banks like Deutsche Bank, Credit Suisse and Standard Chartered cut jobs across their firms and scale back some of their businesses under new CEOs.
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