UBS Internal Moves Boost Asia Prime Brokerage

Aug 12 2009 | 2:56am ET

In the ongoing prime brokerage arms race in Asia, UBS is sticking with its own. The Swiss bank has made two key appointments in its Asian prime brokerage, both internal moves.

Alastair Sclater has been named head of the firm’s Singapore prime brokerage, a new post. But Sclater is no stranger to the role, having led UBS’s sales effort in the city-state for years.

“Having a presence in Singapore has been a huge contributor to the number of mandates won and our ability to retain these high-quality clients in the face of aggressive competition,” UBS said in an internal memo.

The firm also made a key appointment in Hong Kong, Asia’s biggest hedge fund center, making Ashley Jarvis Asia-Pacific head of prime brokerage sales and global head of business consultancy. Jarvis has been with UBS for five years, most recently in London, where he ran the prime broking business consultancy for Europe, the Middle East and Africa.

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