UBS has appointed Chi-Won Yoon as chairman and CEO of Asia Pacific and as member of UBS’s group executive board, with immediate effect. Yoon succeeds Rory Tapner who, after 25 years, is leaving UBS.
Mr. Yoon joined UBS in 1997 as head of equity derivatives, becoming head of asia equities in 2004, head of asia pacific equities in 2008, and head of equities and head of FICC for Asia Pacific in 2009.
Oswald Grübel, group chief executive officer, said: “Chi-Won’s indisputable track-record of commercial success and proven leadership skills will ensure that the firm maintains its focus and continues to enjoy the support of its clients.”
Mr. Tapner said: “Chi-Won brings with him 23 years of experience in leading and building profitable and client-driven businesses. Chi-Won’s appointment ensures that UBS is well positioned to face the next stages of the firm’s development and growth in Asia Pacific.”
Mr. Yoon said: “The chance to lead UBS in Asia Pacific with its strength and depth across the region in investment banking, and wealth and asset management is exciting and I look forward to following in Rory’s very successful footsteps. Despite the challenges that the industry faces in the near term, Rory leaves a business with impeccable credentials and a stability and client base that is the envy of many.”
