UBS Asset Management’s head of Hong Kong and regional wholesale client coverage has resigned and is understood to be moving to a new wealth management client-focused role at US private equity firm KKR.
Markus Egloff, who had worked at UBS for almost 25 years in numerous roles, will be leaving shortly to join KKR. He will be taking up a new position that focuses on expanding the firm's reach to wealthy individuals across the Asia region, said people familiar with the move.
Egloff had been the Asia Pacific head of wholesale client coverage at UBS since July 2018, in addition to acting as Hong Kong head, a position he assumed at the same time, according to his LinkedIn profile. He posted a ‘thank-you’ message on the profile on Thursday (May 6).
Before working in those roles, Egloff had been employed in a variety of similar positions for UBS. These included acting as head of Asia ex-Japan wholesale client coverage, and earlier acting as chief of staff for UBS Wealth Management in Hong Kong.
Egloff did not reply to requests for comment on his departure. However, on his thank-you note he said that “I’m spending some time relaxing with my family before starting a new and exciting chapter of my career which will keep me here in Hong Kong”.
An internal note UBS note on Egloff’s departure that was seen by AsianInvestor, noted that “an announcement will follow shortly regarding a successor for the Head of asset management, Hong Kong role”.
It added that Francesco Grana had been appointed as head of wholesale client coverage, with responsibility for the wholesale business globally, effective May 1. Grana has led UBS Asset Management’s wholesale client coverage for Europe, Middle East and Africa, and Switzerland team since 2018.
A KKR spokeswoman declined to comment on Egloff joining the firm. A UBS spokesman declined to comment on Egloff leaving.