Marcus Kwong has been appointed Head of Sales Trading in Asia at UBS, a Swiss multinational investment bank, Finance Magnates has learned. According to an update via LinkedIn, the executive previously served as the Executive Director and Head of APAC Equity Trading at Morgan Stanley for over two years.
Between 2009 and 2019, Kwong worked as the Director and Head of North Asia Sales Trading at Deutsche Bank’s branch in Hong Kong where he led a team of international sales traders across Hong Kong, China, Korea, Taiwan and the UK.
Additionally, the executive had an extensive tenure at UBS for almost five years between 2004 and 2009, where he worked from Shanghai and Hong Kong as Director and Associate Director, where he helped build a sales trading team and develop UBS’ QFII A-share equity platform.
Prior to his tenure at UBS, Kwong worked as a Securities Analyst at Goldman Sachs between 2000 and 2004.
Kwong holds a BS and a BA in Finance and East Asian Studies from the University of Southern California and a Chartered Financial Analyst (CFA) charter holder certification from the CFA Institute.
“I’m happy to share that I’m starting a new position as Head of Sales Trading, Asia ex at UBS! I started my sales trading career many moons ago at UBS when the firm took a chance on a nerdy kid in equity research with no trading background. I’m excited to re-connect with friends and colleagues across multiple divisions to deliver the full UBS ecosystem to our institutional and private banking clients,” he said.
UBS 2021 Financial Results
Early this year, the Swiss multinational investment bank and financial services company unveiled its financial results for the full-year 2021. The net profit of UBS came in at $7.5 billion. The full-year 2021 profit before tax (PBT) was USD 9,484 million, which is 16% higher than the previous year.
UBS witnessed strong demand across its wealth management division as profit before tax reached $4.8 billion. The PBT was up by approximately 19% YoY. In terms of investment banking, UBS reported a profit before tax of $2.6 billion for the full year of 2021.Despite the overall growth for 2021, UBS witnessed some challenges in the fourth quarter of last year.
