Allen Lo appointed UBS Hong Kong CEO

UBS AG appointed Allen LO as Country Head for Hong Kong and Chief Executive of UBS AG, Hong Kong Branch.

Lo retains his responsibility as Deputy CEO Wealth Management Asia Pacific and CEO Wealth Management, Hong Kong. He succeeds Chi-Won YOON, Chairman and Chief Executive Officer of UBS AG, Asia Pacific who is stepping down to concentrate solely on his management responsibility for UBS's Asia Pacific business.

"Over the past several years Allen has played a leading role in the rapid expansion of our wealth management business and has spearheaded the development of our business in Greater China. He brings outstanding leadership qualities, commercial acumen, and a demonstrated track record of success to his new role," said Chi-Won Yoon.

As Country Head, Lo will represent Hong Kong on UBS's Asia Pacific Management Committee, chair the local management committee, and be responsible for coordinating activities across UBS's business groups in Hong Kong. His responsibilities will encompass market strategy development, governmental and regulatory interface, and community affairs.

Lo has lived in Hong Kong for 23 years and has more than 22 years of financial services industry experience. He joined UBS Wealth Management in August 1997 and was appointed Deputy Head of the wealth management business in Asia Pacific in September 2006. He is also a member of the Board of Directors of UBS International Hong Kong Limited and a member of the UBS Group Managing Board.

In a related move, Head of Asia Equities at UBS investment Bank, CJ Beshke, has been named Alternate Chief Executive Officer for UBS AG, Hong Kong Branch.