UBS, the bank created by the June merger of Union Bank of Switzerland and Swiss Bank Corp., appointed a recent recruit as a deputy head of domestic private banking.
Ray Soudah, formerly chief financial investment officer of Cedel Bank, Luxembourg, joined UBS in May. His job, to which he was officially named this month, entails oversight of business development for private banking in the Americas and the Asia-Pacific region. Mr. Soudah will be based in London.
UBS, based in both Basel and Zurich, opened a Tokyo private banking office on July 1, its first in Japan. The private bank already operates in Hong Kong and Singapore.
In addition to the Far East, Mr. Soudah is responsible for developing more private banking business in Houston, Los Angeles, Miami, New York, and San Francisco.
UBS manages about $500 billion of assets for private clients and has a total of more than $1 trillion of assets under management worldwide.