investment

UBS’ Senior Indonesia Wealth Banker Leaves Amid Several Exits

Chanyaporn Chanjaroen

1 min read

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⚡ Quantum Brief

Lionel Yoong, UBS Group AG’s senior Indonesia wealth banker, has resigned from the Swiss firm, marking the latest high-profile exit from its Singapore-based Indonesia coverage team. This departure follows two previous Indonesia market heads leaving UBS since early 2025, neither of whom were replaced, signaling potential instability in the bank’s Southeast Asia wealth management division. Yoong, a former Credit Suisse banker, joins a growing list of exits, though UBS has not disclosed reasons for his departure, leaving industry observers speculating about internal shifts or competitive pressures. The departures come amid broader restructuring at UBS following its 2023 acquisition of Credit Suisse, which may be reshaping its Asia-Pacific wealth management strategy and talent retention efforts. Unnamed sources confirm the exits but emphasize uncertainty over whether UBS will fill these roles, raising questions about its long-term commitment to Indonesia’s high-net-worth client market.

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000UBS Group AG’s senior wealth banker Lionel Yoong has left the Swiss firm, adding to several recent departures from the group covering Indonesia from Singapore.The former Credit Suisse Group AG banker is the third market head for Indonesia to leave UBS since the start of last year, according to people with knowledge of the matter. UBS hasn’t replaced the other two who joined other firms last year, and it’s not clear why Yoong left, the people said, asking not to be named discussing personnel matters.

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Source: Bloomberg

Website: https://feeds.bloomberg.com/markets/news.rss

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