In an interview with The Straits Times in June, Alex Wilmot-Sitwell said he planned to lift UBS’s revenues in Asia-Pacific from 20% to one-third within five years. The 13-year UBS veteran, who has just been promoted to co-head of Asia-Pacific alongside Chi-Won Yoon, could not now be better placed to fulfil his pledge.

By promoting Wilmot-Sitwell from global co-head of investment banking to the Asia-Pacific role, UBS becomes the latest bank to reaffirm its commitment to a region that continues to be one of the main engines of global economic growth. Wilmot-Sitwell will move to Hong Kong effective November 1.