Money Management

UBS Asset Management’s head of China onshore to lead regional business

Raymond Yin is the new head of the Asia-Pacific region for UBS Asset Management, effective Feb. 1.

Mr. Yin, who joined UBS Asset Management in Shanghai on Dec. 12 as a managing director and head of China onshore, will replace 28-year UBS veteran Rene Buehlmann, who will take a sabbatical before returning to a position at the firm, according to a news release. A Hong Kong-based spokesman for the firm declined to provide further details, and Mr. Buehlmann couldn't immediately be reached for comment.

In a sign of China's growing importance for UBS Asset Management's business in the region, Mr. Yin will stay in Shanghai after assuming leadership of the firm's Asia-Pacific business.

The news release said Mr. Yin's appointment "underscores our long-term vision for China." Building on the firm's "unique position" in that country is a "key to achieving our growth ambitions" in the region, it said.

Mr. Yin came to UBS Asset Management from Shanghai Chongyang Investment Management, where he was a partner and head of the firm's international division and CEO of Hong Kong-based Chongyang International Asset Management. Before that, he served as head of China equities at Goldman Sachs.