UBS Appoints Wu Jiyao to Lead Asia-Pacific Asset Management

UBS Group AG has appointed Wu Jiyao as the new head of its asset management division in the Asia-Pacific region, effective October 1. This strategic move is seen as a crucial step in strengthening UBS's presence in the region following its acquisition of Credit Suisse. Wu, who brings over 28 years of experience in the asset management industry, will be based in Hong Kong and will also serve as a member of the global management team for asset management and the Asia-Pacific management team for UBS.

Prior to joining UBS, Wu held the position of head of Asia-Pacific for Allianz Global Investors, where he oversaw both retail and institutional businesses. Before that, he served as the CEO of J.P. Morgan Asset Management for Greater China. Wu's career also includes significant roles in the Hong Kong government, such as serving as the chairman of the Hong Kong Investment Funds Association from 2009 to 2011 and as the vice-chairman from 2008 to 2009.

In his new role, Wu will be responsible for executing the strategic plans for UBS's asset management business in the Asia-Pacific region. This includes collaborating with wealth management and investment banking services to implement a unified banking strategy. Wu will also focus on expanding UBS's joint venture businesses in China, leveraging his extensive network and market insights to identify new opportunities and strengthen existing partnerships.

Wu's appointment comes at a time of significant organizational changes within UBS's Asia-Pacific operations. Notably, Hu Zhihui, the former chairman of Credit Suisse Securities, joined UBS Securities in 2024 and now serves as the president of UBS China and chairman of UBS Securities. These changes reflect UBS's broader strategy to integrate its operations and enhance its market position in the region.

UBS's asset management division in the Asia-Pacific region is poised for growth under Wu's leadership. His extensive experience and deep understanding of the local market will be instrumental in driving the division's strategic initiatives. By integrating asset management, wealth management, and investment banking services, UBS aims to provide a comprehensive suite of financial solutions to its clients, enhancing its competitive edge in the region.