The bank is creating an ultra-high net worth business division in the region, and named its CEO.

J Safra Sarasin said today it has appointed Vinay Gandhi as managing director and chief executive of its newly-created Ultra High Net Worth Asia division, joining the Switzerland-headquartered firm from its Alpine state rival, UBS.

Gandhi reports to Enid Yip, CDO for Asia. He is based in Singapore, J Safra Sarasin said in a statement.

A wealth management veteran with more than 25 years of experience, Gandhi has managed senior client advisory teams as well as personally served Asian UHNW families with a broad range of complex financials needs.

“With his proven ability to lead and grow a business organically, Vinay represents the further deepening of J. Safra Sarasin’s commitment to Asia and to our clients," Yip said in the statement.

Gandhi worked at UBS from January 2010, leading a team of 150 people based in Singapore and Hong Kong, serving UHNW clients in Southeast Asia, primarily in Malaysia, the Philippines and Thailand, as well as global NRI clients. Prior to joining UBS, he served as MD and headed the South Asian business for Deustche Bank's private banking division in Singapore. Gandhi has held senior management positions with leading private banks such as Citigroup Private Bank and Commerzbank in Asia.

He began his career in Hong Kong in 1991 and was based there until 1997. He has been
resident in Singapore since 1997.