UBP has overhauled its organisational structure for investment services in Asia with Edouard Hoepffner, senior managing director and head of investment services, stepping down, according to a memo FSA has seen.
“After much reflection, we have concluded that this critical objective can be better delivered through a new organisational structure for investment services in Asia, with leadership and accountability for the development and delivery of investment solutions more firmly anchored in our Hong Kong and Singapore offices rather than at a regional level,” said Michael Lok, head of investment management and co-CEO of asset management, and Michael Blake, head of wealth management and Asia CEO, in the memo.
As part of the reorganisation, Paras Gupta has been appointed head of investment services for southeast Asia, based in Singapore. He reports to Lok and to Eric Morin, regional head of southeast Asia, in his new role.
Gupta will remain the regional lead for DPM from an asset allocation and controls perspective following his promotion. Gupta has been with UBP for six years and served as head of portfolio management for southeast Asia before being promoted to regional head of portfolio management.
UBP has yet to appoint a head of investment services for north Asia, based in Hong Kong but, said it will do so in the coming months. In the meantime, Ivan Wong will assume the role of interim head. Wong currently serves as regional head of north Asia and Hong Kong branch chief executive.
Meanwhile, Hoepffner will remain at UBP until the end of May to help with the transition. Hoepffner has been with UBP for seven years and before that was at Coutts.