UBS names new APAC president

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Edmund Koh will replace APAC president Kathy Shih, who plans to retire from the bank after 32 years.

Edmund Koh, UBS

Koh, who will assume his new role in January, is the firm’s head of wealth management for Asia-Pacific and country head of Singapore. In his new role, he also joins UBS Group’s executive board, according to a statement from the bank.

Koh became head of wealth management for Asia-Pacific in 2016, a role he took over from Shih when she was promoted to APAC president at the time.

The bank did not mention whether a successor will be sought for Koh’s wealth management and Singapore positions. A Hong Kong-based spokeswoman said Koh remains in those roles.

Koh joined UBS in 2012 as head of wealth management for Southeast Asia. He came from Ta Cong Bank in Taiwan, where he served as president and director for four years. Before that, he was managing director and regional head for consumer banking at DBS Bank in Singapore from 2001-2008.

Shih joined UBS in Hong Kong from Citibank in 1987. The bank said Shih had been “instrumental in building the wealth management franchise of the firm in the region”, adding that invested assets grew 5x to CHF 300bn ($301bn) from 2002-2015, the period in which she headed Asia-Pacific wealth management.

Separately, the firm also appointed Markus Ronner as head of group compliance, regulatory and governance, effective next month. With the appointment, Ronner also joins the group’s executive board. Previously, he was head of regulatory and governance for the group.

Ronner first joined the bank in 1981 and held various roles, including head of group internal audits and chief operating officer of asset management.

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