Major Setback For UBS in Asia

A long-standing key executive has left UBS in Singapore for arch-rival Credit Suisse, finews.asia can reveal exclusively. The move follows a similar recent high-profile departure, also to its Swiss rival.

In a surprising development, Patricia Enslow (pictured below) who has worked for UBS in Asia for over a decade, has parted ways with the Swiss banking giant.

During her tenure with UBS, Enslow played a leading role for marketing the bank throughout the Asian region. Most recently, she was a Managing Director and Chief Marketing Officer for UBS Wealth Management Asia Pacific.

patricia enslow 500

Now she leaves the largest Swiss bank to accept a new role at Credit Suisse (CS), finews.asia has learned.

Stiff Headwinds

A UBS spokesman confirmed to finews.asia that Enslow is leaving the bank. A spokesman at CS did not comment further.

The departure of Enslow is another major setback for UBS, as the bank experiences stiff headwinds in Asia right now. A few months ago it also lost Dagmar Maria Kamber Borens (pictured below); the regional Chief Financial Officer (CFO) of UBS Asia-Pacific in Singapore, as finews.asia also reported exclusively.

Kamber 501

Kamber also moved to CS, where she will commence her role as the Chief Operating Officer (COO) for the Swiss Universal Bank, or SUB, in October.

Excellent Reputation

Patricia Enslow played an instrumental part in ensuring that the UBS, in the (Asian) public eye, enjoyed its excellent reputation over recent years.

Against this backdrop, the largest Swiss bank and leading asset manager in Asia will have to work hard on the succession planning of Enslow, whose departure undoubtedly leaves a significant gap.

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