(Bloomberg) -- Fan Yang, a senior UBS Group AG banker in Asia and daughter of China’s former vice premier, is leaving the bank due to personal reasons, according to people with knowledge of the matter.
Yang, UBS chairman of global banking for Asia, is one of the high-profile rainmakers hired for the bank’s China business in recent years. She joined in 2020 from China Merchants Securities International, where she was chief executive officer for five years. Yang is the daughter of Liu Yandong, who was China’s vice premier from 2013 to 2018.
A spokesman for UBS declined to comment, while Yang didn’t answer a phone call seeking comment.
Her departure comes at a time when global investment banks are roiled by increased geopolitical tension between the US and China as well as a sharp slowdown in the world’s second-largest economy. David Chin, UBS’s former head of Asia Pacific investment banking, resigned to step away from banking in October.
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