Bloomberg News reports that some of the bankers will report to Alfred Tsai, who was BNP’s Hong Kong-based head of China wealth management before he joined UBP, said the person, who asked not to be identified as the details aren’t public. Elina So, a managing director in Tsai’s group at BNP, has also moved to UBP, the person said.
In the meantime, Reuters reports that Sid Tipples, joint head of JPMorgan’s metals business, will leave the bank around the end of the year, four sources familiar with the matter said.
JPMorgan’s metals operation is one of the world’s largest with global activity in both industrial and precious metals. Tipples is based in London and runs it together with Mike Nowak, who works in New York.
And Bloomberg News reports that Royal Bank of Scotland’s most senior female banker, Alison Rose, will become deputy chief executive officer of its ring-fenced holding company as she adds to her growing responsibilities.
Rose, who had been seen as an eventual potential successor for Chief Executive Officer Ross McEwan, will take on her new role from December 3.
Finally, Bloomberg reports that UBS is changing the way it covers clients with long-term pools of capital.
The bank hired former Wells Fargo & Co. bankers Grant Thompson and Sandra Godard as managing directors for a new group dubbed Alternative Capital Solutions, according to a memo sent Wednesday by Sam Kendall, UBS’s head of corporate client solutions in the Americas. Erica Chase, a UBS spokeswoman, confirmed the contents of the memo.
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