UBS has appointed Gan Seow Ann as vice chairman of UBS Wealth Management South East Asia and Asian Pacific hub as part of its continued expansion in the region.

Swiss banking giant UBS has appointed Gan Seow Ann as vice chairman of UBS Wealth Management South East Asia and Asian Pacific hub as part of its continued expansion in the region.

Based in Singapore, Gan will join UBS in mid-August, reporting to country head Edmund Koh, Singapore and chief executive of UBS Wealth Management South East Asia and Asia Pacific hub.

"South East Asia and the Asian Pacific hub locations of Taiwan, Japan, China and Australia have been an increasingly important source of growth for Asia Pacific and we have seen many landmark capital market and mergers and acquisitions deals being brought to the market by leading entrepreneurs in the region. Our integrated bank which brings together wealth management, investment banking and global asset management capabilities to serve our clients has created a solid UBS franchise in this region," said Koh.

Until last year, Gan was president of Singapore Exchange, South East Asia's largest bourse operator, where he was responsible for the growth and development of derivatives and commodity markets, securities and the clearing business.

During his 11 years with Singapore Exchange, he was actively involved in engaging regulators in the region to enhance the rules framework for capital markets and he also led the drive to establish the firm as a venue for initial public offerings and debt raising capital.

Before joining Singapore Exchange, he was managing director at Merrill Lynch, where he wa responsible for the firm's business activities in its South East Asian offices and managed its exchange seats in Indonesia, Malaysia, Philippines, Thailand and Singapore.

Prior to this, he was managing director at Crosby Securities, where he oversaw the equities business in Malaysia, Indonesia and Singapore.

Gan holds a Master of Business Administration and a Bachelor of Arts in Economics from McMaster University in Canada.

"Seow Ann is also well recognised by regulatory boards across the region. His rich international and regional experience, as well as his strong relationships with entrepreneurs and business owners across the region, will serve the firm well. Seow Ann will support us in strengthening our relationships with our existing clients and in forging new ones across the region. Additionally, he will be instrumental in providing our clients with deep insights to doing business in Asia," said Koh.

Last month, UBS reported a record profit for its Wealth Management Americas division for the second quarter of 2013. The wealth arm covering other regions reported the highest profit in four years, excluding charges linked to a recent Swiss-UK tax agreement and restructuring costs.

Wealth Management’s profit before tax in the second quarter was SFr557 million ($598.3 million), down from SFr664 million in the prior quarter. Adjusted profit before tax decreased by SFr83 million to SFr607 million and included a charge of SFr104 million in relation to the Swiss-UK tax agreement. Excluding also this charge, profit before tax was SFr711 million, a rise of SFr21 million from the previous quarter.