Union Bancaire Privée has hired a new head for its banking operations in Luxembourg as part of plans to extend its private banking and asset management activities in the Benelux region with a new office to open in Brussels by early next year.

Yves Stein joined the bank in July from BNP Paribas, where he was in charge of wealth management. He joins with more than 20 years experience in the banking sector, including a stint at Fortis group, where he was chief executive officer of its private banking division.