Steven Barg, the head of global capital markets Asia at UBS, has left the company to join Goldman Sachs Group, a report by The Wall Street Journal reveals, citing unnamed sources.

Barg is said to have quit to join rival Goldman to become co-head of equity capital markets for Asia excluding Japan. He tendered his resignation Wednesday, the report said.

According to the sources, his departure has caused the redirection of reporting lines for debt and equity capital markets in the region to Matthew Koder, the bank's global head of global capital markets based in London. Reporting to Koder are Guy Wylie, Asia head of debt capital market, Sam Kendall, Asia head of syndicate, Stuart Mackay, Asia ex-China head of origination, and Joseph Chee, China head of global capital markets.

UBS was unavailable for comment at the time of publication.