Following the appointment of Hu Zhilu as Vice Chairman at the beginning of last month, UBS has undergone another high-level personnel change.
On August 29th, First Financial learned from UBS that due to family reasons, Qian Yujun will step down as the President of UBS Group China and be succeeded by Hu Zhigui. The appointment will take effect on September 16th.
It is reported that in the future, Qian Yujun will also hold other positions within UBS Group and continue to participate in multiple strategic projects related to the integration of China's business after the group's acquisition of Credit Suisse.
After taking over as the President of the China region, Hu Zhiling will be fully responsible for leading and promoting UBS's strategic layout and business development in China.
Just at the beginning of last month, after taking over Credit Suisse and completing the restructuring of its securities business in China, UBS Securities underwent a senior personnel change. Former Chairman of Credit Suisse Securities (China), Hu Zhiling, joined UBS Securities as Vice Chairman. Currently, Hu Zhiling also serves as Vice Chairman of UBS Securities and Chairman of UBS Global Investment Banking China.
Qian Yujun has a close relationship with UBS - he worked in the investment banking department of UBS Hong Kong from 1997 to 2003, and returned to UBS in 2015 as the President of UBS Group China and a member of UBS Group Asia Pacific Executive Committee. Since the end of 2017, he has served as the General Manager of UBS Securities.
When Qian Yujun returned to UBS, it was a period of accelerated development of the group's business in China, and also a key moment for UBS Securities to continue seeking to transition from joint venture to controlling stake.
In October 2019, He Di, who had been with UBS for many years, stepped down as chairman of UBS Securities, and was succeeded by then general manager Qian Yujun as chairman of UBS Securities.
In recent years, Qian Yujun has led and promoted the comprehensive implementation of China's business development strategy, implementing UBS's "integration" strategy.
This time, Hu Zhilu "took over" as the President of UBS China. It is reported that he will lead the UBS management team in China to promote the development of UBS China's business from multiple levels, while also maintaining close and effective communication with regulatory agencies.
According to the data, Hu Zhiling has served at Credit Suisse for more than 20 years, holding various important management positions such as Head of Investment Banking at Credit Suisse China, Vice Chairman of Credit Suisse China, CEO of Credit Suisse China, and Chairman of Credit Suisse Securities (China) Co., Ltd. During his tenure as CEO of Credit Suisse China, Hu Zhiling was responsible for leading and managing Credit Suisse's development strategy and business layout in China, committed to enhancing Credit Suisse's influence in China.