The Swiss bank said the head of its Asia business is to step down in the second half of the year, clarifying earlier unsourced reports of the departure.

Union Bancaire Privée, the Geneva-headquartered private bank, has confirmed to this publication that its Asian head, Stephan Repkow, is leaving the firm in the second half of 2015 after spending more than four years at the firm.

A replacement for Repkow, who was based in Singapore, will be announced in due course, according to an emailed statement from the bank.

WealthBriefing had heard of reports stating that Repkow had resigned but these reports did not state the exact timing of his departure.

“His [Repkow’s] help in growing the bank’s private banking business in Asia has been greatly appreciated and we wish him all the best in his new role. His departure does not impact UBP’s growth strategy there, which is a key development region for the bank – as illustrated by the recent partnership agreement it concluded in China and the opening of a new company in Shanghai,” the statement said.

When he was appointed in February 2011, Repkow had joined from Swiss-Asia Financial Services, where he was chief investment officer. He also held senior positions at Deutsche Asset Management, Citi Private Bank and BNP Paribas and has focused variously on fixed income, treasury, private banking and asset management during his career.

Among other moves at UBP recently, last summer it named a new head of its multi-family office platform in Singapore. It appointed Joerg Hansen, formerly of DBS Private Bank. Other hires at the unit include Cheryl Ng, who also previously worked at DBS, and Ong lu-Jin, who is head of the multi-family office.