Switzerland's largest lender UBS, has hired a team of two from rival Credit Suisse, as part of its ongoing bid to tap China's multi-millionaires.

Cindy Chang joins as managing director, cluster head, and is based in Hong Kong. She is responsible for leading teams to develop the ultra high net worth (those with more than US$30 million in net assets) business in Greater China.

Chang was previously managing director, head of UHNW investment solutions at Credit Suisse.  She reports to Harry Pang, country team head, China, UHNW, UBS Wealth Management. She has a decade of experience in private banking and investment banking.

Stella Lau starts as executive director and is based in Singapore. Her ten years of experience lies in private banking in Taiwan and China. At Credit Suisse she served as director, Greater China, private banking, for the last two years. She is now responsible for leading teams to develop the UHNW business in Greater China. She also reports to Pang.

Amy Lo, head of UHNW, Asia-Pacific,UBS Wealth Management, announced the moves in an internal memo seen by WealthBriefingAsia, which is the sister publication to this website.