UBS Taps Former Regulator To Oversee Chinese Integration

Tom Burroughes

11 May 2020

has appointed a former senior Chinese bank watchdog figure, Alan Wang, to oversee the integration of the bank’s Chinese operations.

Wang joined UBS as a managing director in charge of coordinating strategy for its various mainland units in a compliant fashion, according to an internal memo seen by this news service.

Wang came from the China Banking and Insurance Regulatory Commission and had earlier served at the People’s Bank of China. He has led teams overseeing foreign bank supervision, risk management and international affairs on the mainland.

In November 2018, UBS became the first foreign bank to win Chinese approval to take control of its China securities joint venture. The bank also has wholly-owned onshore units in wealth management, asset management, and futures businesses. It has a joint venture fund management unit called UBS SDIC Fund Management.

UBS has given Wang the title of “China integration lead” and he reports to Edmund Koh, who is the president of UBS for the Asia-Pacific region. Wang will be based in Hong Kong working closely with David Chin, UBS’s China country head.

"His experience will be invaluable as we seek to optimize our capability onshore in China to deliver meaningful and sustainable growth in line with a rapidly changing regulatory landscape," the memo said.