Chairs shuffle at UBS as Orgill returns home

After 10 years in Asia, Brad Orgill is returning to his Sydney home to become chief executive officer of UBS Investment Bank in Australasia, as well as country head of Australia. He relinquishes his role as head of equities for the region.

Orgill assumes the CEO mantle from Chris Mackay who now becomes chairman of the bank in Australasia - a position left vacant since Gordon Dickinson retired in 2003.

The shuffle, which takes effect on August 5, relieves Mackay of some of his administrative and operational duties, allowing him to focus full time on client activities and deal making. Mackay remains a member of the UBS Investment Bank Board.

Back in Asia, Chi-Won Yoon takes over equities for the region, but unlike Orgill does not have responsibility for Australia and Japan. This sits with country equity heads Mark Steiner in Australia and Rick Samuelson in Japan.

Yoon has been appointed to the Equities Management Committee, however, and will also represent equities on the regional management committee, chaired by Asia boss Rory Tapner.

Orgill's history with the bank extends back to 1986. He joined UBS as an analyst and then moved through the ranks in Australia becoming co-managing director of the equities business before relocating to Asia in 1994. He was made head of Asia Pacific equities in July 2001 after holding several other roles for the bank in Singapore and Hong Kong.

Sources say as CEO of Australasia he will be instrumental in integrating the Australian business with UBS's Asian franchise.

Mackay says: "Brad brings a fresh perspective to the CEO role. His deep understanding of UBS in Asia Pacific as well as of global markets and products will enhance our business. As we become increasingly international, his experience will benefit both clients and employees."