Zurich-based UBS is hiring Edith Chan as the head of direct investment group distribution for China, Hong Kong, and Taiwan, effective June 21, according to an internal memo seen by finews.asia. A spokeswoman for the bank confirmed her hire.

She adds to a key group of advisers to the wealthy that Iqbal Khan, who runs the private bank together with Tom Naratil, has placed particular emphasis on since 2019. The idea is to find private market initiatives, outside the traditional stock market investment business, for the ultra-rich to invest in.

UBS Homecoming

Specifically, UBS’ direct investment group focuses on investing in private companies via direct participation in primary and secondary equity share placements. It also places private debt and credit, as well as real estate and infrastructure funds.

Chan held a similar role at J.P. Morgan until last year, involving hedge funds, private equity, direct investments and real estate. UBS is a homecoming for her, as she worked for the Swiss bank in the private markets distribution job for China, Hong Kong, and Taiwan until 2018. She will report to Enrico Mattoli, the regional chief for the direct investment initiative.