Moves: Deutsche Bank's private bank head in Asia leaves to join UBS -sources

Credit Suisse AG

08/06/2023 13:08

(Rewrites with Young joining UBS)
       HONG KONG, June 8 (Reuters) - Jin Yee Young, who joined
Deutsche Bank  DBKGn.DE  in January to lead its Asia Pacific
private banking business, has decided to leave the company to
join UBS  UBSG.S , according to two people familiar with the
matter.
    Young is joining Swiss bank UBS to become a co-head of its
global wealth management business in Asia Pacific, the people
said.
    Deutsche Bank and UBS declined to comment. 
    Young will be replaced at Deutsche Bank by Marco Pagliara,
as the new head of emerging markets, according to an internal
memo seen by Reuters. Besides Asia Pacific, his new role will
also cover the Middle East and Latin America, the memo added. 
    Pagliara, whose appointment to the new role is effective
immediately, joined the German lender in 2019.
    Singapore-based Young previously worked as the deputy head
of Credit Suisse's  CSGN.S  Asia Pacific wealth management
business.
    Young is joining UBS as the Swiss private banking giant 
completes its takeover of rival Credit Suisse in a deal
orchestrated by Swiss authorities in March.
    Asia is a key market for both banks with billions of dollars
in client assets.   

 (Reporting by Xie Yu; Editing by Kirsten Donovan)