UBS names Edmund Koh as CEO Singapore wealth management unit

Koh has twenty years experience in financial services including reorganision of Ta Chong Bank.

UBS said on Monday it has hired Edmund Koh, who was recently at Carlyle Group, as chief executive officer of its wealth management business in Singapore.

He will start his new job early next year.

Koh will replace Christine Ong, who is on an extended leave of absence for personal reasons and will return next year.

"The recent events in the past few weeks have not changed my decision to join UBS. The fundamental strengths of the bank that attracted me to this job remain unchanged," Koh said in an email.

The UBS board on Saturday accepted the resignation of 67-year-old Oswald Gruebel, its German-born chief executive and appointed as his interim replacement Sergio Ermotti, 51, who hails from Switzerland's Italian-speaking region of Ticino.

Koh, a former regional head of consumer banking at DBS , has a two-decade experience in financial services and recently helped reorganise Taiwan's Ta Chong Bank for Carlyle, UBS said.

View the full story in Reuters.