One of the most senior figures in the Greater China wealth management scene has left his Swiss bank as the sector's employment merry-go-round continues.

Peter Tung, who had moved to a new role at UBS as senior relationship manager and client coverage for Greater China, and was previously head of ultra high net worth for Greater rChina at the Swiss bank, has left, this publication can confirm.

WealthBriefingAsia - sister publication of this news service - understands that Tung is on a period of gardening leave. UBS declined to comment. This publication is seeking clarification on who may or will replace Tung, and when.

WBA exclusively reported in June, 2011, that Tung, and then-Morgan Stanley colleague Harry Pang, had joined UBS as managing directors. In his former role, Tung was a managing director and sales manager for Taiwan in Morgan Stanley’s Private Wealth Management division. Pang was an executive director and senior salesman for China in Private Wealth Management.

As reported here earlier this week, meanwhile, it is understood that media reports stating that UBS has cut the majority of its non-resident India team in Hong Kong and culled a large element of its NRI desk in Singapore is incorrect. The bank said it is committed to the NRI client segment.