UBS has confirmed the departure of a senior executive at its Asia mergers and acquisitions business.
Stephen Gore has left his role as head of the Asia M&A division after working for 19 years at the company. He had led the financial sponsors coverage for UBS in Asia until 2007, when he was called to lead the Asia M&A arm. The bank did not mention anything about Gore's next plan.
However, media reports show that Gore may have moved to Bank of America Merrill Lynch to become its new head of M&A for Asia-Pacific ex-Japan based in Hong Kong. Gore takes over from David Killingback, who is reportedly going to remain based in Australia but covering the firm's consumer, media and retail businesses. Bank of America has not made a formal announcement on these changes as of this writing.
Gore is not the only high-profile departure at UBS in the past months. Early this year, Jorge Martinez, head of oil and gas for Asia, left the company to join HSBC. Ren Wang, co-head of the financial institutions group, also resigned to join Jefferies.