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Hu Jiuzhu will take over as the head of UBS China, while Qian Yujun will take on other roles within the group after his departure.

AInvestThursday, Aug 29, 2024 10:30 pm ET
1min read

21st Century Business Report, by Cui Wenjing, Beijing, China. After assuming the position of vice chairman of UBS Securities, Hu Zhizhi, former chairman of UBS Securities, is about to take on a new role.

21st Century Business Report learned from UBS Securities that Hu Zhizhi will officially take on the position of president of UBS China on September 16, fully responsible for leading and promoting UBS's strategic layout and business development in China.

The president of UBS China was previously held by UBS Securities Chairman Qian Wuyong, who still holds the position of UBS Securities Chairman. In the future, he will take on other positions within UBS, continuing to participate in multiple strategic projects related to the integration of UBS's China business after its acquisition of Cinda Securities.

On June 24 this year, the news that Beijing Enterprises acquired 36.01% of UBS's Cinda Securities shares, a total of 85.01% of Cinda Securities shares, was officially announced. About ten days later, UBS Securities announced that Hu Zhizhi, former chairman of Cinda Securities, would take on the position of vice chairman of UBS Securities.

It is said that Hu Zhizhi has 28 years of experience in the financial industry and has been with Cinda Securities for more than 20 years. In October 2008, Cinda Securities was jointly established by Cinda and Founder Securities, and it was led and promoted by him.

As a senior veteran of Cinda Securities, Hu Zhizhi is a key figure in Cinda Securities. He has held important management positions such as head of China investment banking, vice chairman of China, CEO of China, and chairman of Cinda Securities (China) Co., Ltd. He also led most of the milestone transactions in China.

Joining Cinda Securities, Hu Zhizhi started a new career. In addition to taking on the position of president of UBS China, he currently also serves as vice chairman of UBS Securities and chairman of UBS Global Investment Banking in China.

UBS Securities said that Hu Zhizhi will lead the UBS China management team to promote the development of UBS China business from multiple perspectives; at the same time, maintain close and effective communication with regulatory agencies to provide support for UBS's long-term stable development in China.

Moreover, Hu Zhizhi will work closely with the leadership of the Asia-Pacific region of the company to seize opportunities for regional and cross-departmental collaboration, helping UBS create long-term value for its clients, employees, partners and other stakeholders in this key market.

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