UBS Announces Key Hires For South Asia

Vanessa Doctor

5 November 2010

UBS Wealth Management has made several hires for its ultra high net worth team in South Asia.

Stepping in from JP Morgan Private Bank is Elan Cohen, who at UBS takes up the role of managing director. Cohen was in a similar role at JP Morgan, where he was responsible for managing global discretionary portfolios for the bank's largest private clients in Asia.

Also joining the UHNW group is Rizvan Baig, who has been named executive director. Baig also comes from JP Morgan, where he was executive director and senior relationship manager. At his previous role, he specialised in UHNW families in South East Asia. Prior to that, he assumed senior positions at the likes of Citigroup Private Bank in Singapore, Morgan Stanley Private Wealth, and Goldman Sachs Private Wealth.

Completing the list of new hires is Matthew Peh, who steps in as associate director, also from JP Morgan. He used to be an associate and investment advisor for Asia at the private bank.

Elan and Rizvan joined the company in October, while Peh took the reins in August.

Asia is a key growth area for the Swiss bank and its expansion strategy in South Asia, led by India, signals its commitment to tap the region's rising wealthy numbers. According to the latest Forbes 2010 India Rich List, the combined net worth of the country's 100 wealthiest individuals stands at $300 billion, up from $276 billion in 2009 - a number touted to rise further over the next years.