UBS has moved Tee Fong Seng, head of Southeast Asia wealth management, to a position in Hong Kong, as part of its restructuring in Asia.

Mr Tee, who was previously based in Singapore, will head UBS’s new key clients competency centre for Asia Pacific. In Hong Kong Mr Tee “will dedicate his time to client-facing activities," a spokesperson said.

In other developments, Allen Lo, Christine Ong and Graham Francis have been appointed chief executives for UBS Wealth Management in Hong Kong, Singapore and APAC Hub, respectively.

"The reorganization not only lays the foundation for profitable, sustainable growth but will also make UBS's wealth management business more agile and efficient for the ultimate benefit of its clients," said Kathryn Shih, CEO of UBS Wealth Management Asia Pacific.