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Daily Dispatches: UBS plans wealth management hiring spree in Asia

UBS plans to raise its Asian wealth management headcount by 40 per cent due to growth opportunities in the region, the Straits Times newspaper reported on Monday, quoting UBS CEO Oswald Gruebel. Gruebel said the bank also planned to boost staff numbers in investment banking and asset management, but did not provide numbers in an interview with the paper last week. (Reuters)

Koh Boon Hwee will step down as chairman of DBS after more than four years in the job, the leading Singapore bank said on Friday. He will be replaced by DBS board member and veteran commercial banker Peter Seah Lim Huat. (Finance Asia)

Institutional investors plan to increase their exposure to Asia in 2010 even though many admit that they lack knowledge and expertise in the region, according to a survey by the Economist Intelligence Unit. (Financial Times)

National Australia Bank and AXA Asia Pacific Holdings said today they have extended until March 29 the deadline for finalising transaction documents for the bank’s $13.3bn takeover bid for the wealth management and insurance firm. (The Australian)

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