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* ?Gaetano Bassolino named head of
* UBS says overlapping investors, product crossover led torevamp
* Regulator has blocked UBS for 18 months from sponsoring HKIPOs(Adds details from memo, UBS facing suspension in
According to an internal memo seen by Reuters on Thursday,?Gaetano Bassolino, currently head of the debt capital markets(DCM) business in the region, will become head of
"It is clear there are synergies that exist across ECM andDCM, such as overlapping investors and product cross over,"David Chin, UBS head of
A UBS spokesman confirmed the contents of the memo.
Sources within the bank told Reuters discussions about thechange in structure had been underway for a while.
Several other banks operate a similar system in the regionand globally in an effort to better co-ordinate the servicesthey offer clients.
UBS's internal reorganisation comes just days after the bankdisclosed the
Sponsors in
UBS has long been an equities powerhouse in the region, onlyonce ranking outside the top three in
So far this year, the Swiss bank is second to Goldman SachsGroup, with
In debt markets, UBS is a smaller player, ranking 11th inthe region this year for bonds sold internationally outside
