Swiss banking giant UBS has appointed a new Chief Executive Officer for its Indian wealth management arm. The bank has chosen Oscar Balcon to head the wealth management segment of UBS in the country.

Balcon is not new in the multinational bank, and has about 28 years of work experience with the bank. It is reported that he has been relocated from Singapore, where he was currently posted.

The bank issued a statement announcing the appointment of Balcon. The statement also mentioned that the new appointment has been done in line with its decision to develop its wealth management services in India and Indian subcontinent.

UBS provides a number of products to its customers like equities, funds, various cash products to domestic customers and plans to provide sophisticated financing solutions to resident as well as non resident Indians.

It should be noted that UBS has recently made many new senior management appointments, including the appointment of Rahul Bhat as the new corporate banking head in India. Apart from this, cluster heads for its business in India have also been appointed.