Reuters saw an internal memorandum on Thursday that UBSG.S merged its Asia Pacific stock and debt capital market operations immediately.
According to the memorandum sent to the bank employees, UBS has appointed Gaetano Bassolino, head of the debt capital market business in Asia Pacific area as the head of capital market in Asia Pacific area.
"Cross equity capital market (ECM) and debt capital market (DCM) obviously have a comprehensive effect, for example, investors and products overlap in different fields," said Jin Hongyi, chief executive of UBS's corporate customer solutions Department (David Chin) in the memorandum.
A spokesman for UBS confirmed the content of the memorandum.
