UBS has announced a raft of senior management promotions, this publication can confirm.

Betty Tsui will be appointed vice chairman wealth management China, reporting to Kathryn Shih. Tsui is a 21-year veteran with UBS. From 1998 to 2005, “she was instrumental in building the wealth management business in Taiwan to become a market leader”, according to a UBS spokesperson. From 2005, she focused on building China business and appointed regional market manager for wealth management China in 2007.

“Under her leadership, China wealth management is one of the key businesses of wealth management in Asia Pacific . In her new role, Betty will dedicate her full attention to deepening client relationships as well as mentoring key talents,” said   Allen Lo, chief executive, Hong Kong, UBS Wealth Management.

Ruth Chung will be appointed as regional market manager for wealth management China 1 (the China role is split with Francis Liu). Chung joined UBS in 1994. She started as a client advisor with a focus on Taiwan, advancing her career to become a desk head, and subsequently, country team head, China North in 2007.  The country team under Ernst Schuler will also report to her.

Francis Liu will be appointed as regional market manager for wealth management China 2. Liu, currently regional market manager for Hong Kong Domestic 2 (the Hong Kong role was split with Jean-Claude Humair), will redirect his focus on expanding coverage in China. He joined UBS in 2010 as regional market manager working with Humair, to jointly manage the Hong Kong domestic business. Before joining UBS, Liu worked for Merrill Lynch where he ramped up more than 18 years of private banking experience and held a number of leadership roles.

Meanwhile, Jean Claude Humair will assume sole responsibility as regional market manager for the wealth management Hong Kong market. In addition, he will be appointed as deputy chief executive for wealth management Hong Kong.  “Jean-Claude has been a key contributor in the growth of our wealth management Hong Kong market. He transferred from UBS Geneva to Hong Kong in 1996. He went on to Tokyo in 2006 where he was CEO Wealth Management Japan and successfully developed and established our wealth management franchise.  In 2011, he returned to Hong Kong and jointly managed the wealth management Hong Kong business together with Francis Liu,” Lo said.

Chung, Liu and Humair will all report to Lo.