Published by Asian Private Banker – 7th January 2015
Asia’s largest private bank by assets under management (AUM), UBS, has appointed a new RMM (regional market manager) for India, Indochina, Philippines and Global Investors according to an internal announcement by the bank this morning.
In what is unequivocally seen as a career advancement, Vinay Gandhi, the bank’s erstwhile country team head for India international and deputy regional market manager, will take over from Andi Reber – the man who recruited Gandhi into the bank in 2010 – as RMM for Malaysia, India, Indochina & Philippines and financial intermediaries group. Reber will continue at UBS in a different role.
The move is seen as a career highlight for Gandhi who is known to have deep relationships in the Philippines market but has until now been seen as an NRI-banker. A well-known name in the private banking circles in Southeast Asia, Gandhi has 24 years of experience in the financial services industry, with the majority – 18 years – having been spent in wealth management in Asia Pacific. Prior to joining UBS, Gandhi has held senior management positions with private banks such as JP Morgan Chase, Deutsche Bank AG and the Citi Private Bank.
Gandhi was de facto head of the bank’s NRI team, which lost majority of its bankers in Hong Kong, it was reported in November 2014. This followed the closure of tis Mumbai-based Indian wealth management operation in 2013, although the bank maintains an investment banking presence in the country.
According to Asian Private Banker estimates, UBS had US$245 billion in AUM at the end of 2013, an increase of 18% on the previous year.
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