Deals
UBS Creates Asia Debt Financing Group After Combining Units
- Deutsche Bank's Deepak Dangayach will start at UBS in April
- Dangayach, Patrick Liu will co-head new financing group
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UBS Group AG has created an Asian debt-financing group by combining its debt-capital market and leveraged-finance operations in the region, as the Swiss bank seeks to bolster revenue from structured lending and high-yield bonds.
The Zurich-based firm has hired Deepak Dangayach from Deutsche Bank AG to co-head the new division with Patrick Liu, according to an internal UBS memo, the contents of which were confirmed by spokesman Rob Stewart. Dangayach, most recently the German bank’s head of high yield and leverage debt-capital markets for Asia, will join UBS in April, the memo showed.