Liz Cacciottolo, head of UBS’s wealth-management business in Australia, is expected to take up a bigger role for the Swiss bank developing its business in the Asia-Pacific region.

UBS confirmed Cacciottolo is leaving her current position to expand the bank's footprint across the Asia-Pacific region. Clark Morgan, currently deputy chief executive of UBS's wealth unit in Australia, will take over from Cacciottolo to become chief executive of wealth management Australia effective July 1.