UBS Loses China Private Banker

1 min readUpdated Jun 4, 2025Mar 19, 20217:10 AM

A private banker covering the China market has left UBS Global Wealth Management.

Payling Lee, market team head for China international, has left UBS Global Wealth Management.

When contacted, a spokesperson for the bank declined to comment.

Lee rejoined UBS in 2017 after serving a four-year stint between 2003 and 2007 in its investment banking arm where she was focused on the fixed income and derivative sales business in Taiwan. Previously, she also spent a decade with Barclays.

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What this means

The departure of Payling Lee, a veteran with deep roots in the China market and prior experience at Barclays, signals potential instability for UBS's wealth management division. While UBS's spokesperson declined comment, the loss of such a seasoned market team head could disrupt client relationships, particularly given the intense competition for high-net-worth individuals in Asia. This move contrasts with rivals like HSBC Private Bank strengthening their regional teams, as seen with Edward Chiu's appointment in Taiwan. UBS's ability to swiftly replace Lee with a similarly experienced professional will be crucial to mitigate any competitive pressure and maintain its market position in China. The immediate focus should be on any subsequent internal or external hires.

Sarah Chen

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