UBS India gets new CEO for wealth management

Mumbai, Nov 5: Swiss bank

today said it has appointed Oscar Balcon as the chief executive for its

management

in the country.

Balcon, who has spent 28 years with the banking major, has been relocated from Singapore, it said in a statement. The appointment is in line with its Oct 2011 decision to build domestic wealth management business in the Indian subcontinent, it added.

UBS offers equities, funds and cash products to domestic clients at present and will also be providing "sophisticated lending solutions" for both resident and non-resident Indians, it said. It has recently hired a number of senior relationship managers and cluster heads for the business, the statement said.

PTI