In his new role, Marx, who joined the firm in January 2010, “will lead the organisation on a day-to-day basis in Hong Kong and Singapore,” according to an internal memo seen by this publication. Marx’s appointment is intended to further support the current FIM business’s organisational structure in the region within the group-wide FIM strategy.

Prior to joining UBS Marx held various managerial responsibilities with Credit Suisse as market head for Australasia as well as head of international wealth management (including FIM).

At the time of publication UBS had not responded to enquiries from WealthBriefing seeking further details on whether Marx's appointment represented a new post or was a replacement for a previous holder of the job.

In other recent appointments, earlier this month UBS named Jaya Jayaram as executive director and head of its India desk in Hong Kong.