UBS vice chairman of wealth management, Carlo Grigioni is relocating from Switzerland to Singapore. A UBS spokesman told WealthBriefing ...

UBS vice chairman of wealth management, Carlo Grigioni is relocating from Switzerland to Singapore. A UBS spokesman told WealthBriefing that the move reflects the growing importance of the Asia-Pacific region to the Swiss bank. Latest figures show a dramatic increase in the number of people UBS employs in the region. By the end of quarter three 2006, it employed 6,992 across all business lines, up 30 per cent from 5,398 at the end of December 2005, the spokesman said. Mr Grigioni, a Swiss national who had previously worked in Singapore to set up the private banking arm of Swiss Bank Corp, will be returning to develop initiatives for ultra high net worth clients. Mr Grigioni has held several senior positions within UBS wealth management, including head Business Area the Americas, Private Banking Division and head of Key Account Management. He will report to Katryn Shih, head of Wealth Management APAC. UBS has about 1,000 wealth management staff in Singapore and is planning to add 1,000 more across the Asia Pacific region over the next four to five years.