Swiss financial services giant UBS has suspended Joseph Chee and Sharlyn Wu for their involvement in hiring a close relative of Chinese corporate client in 2013, as part of its internal investigation.
Joseph Chee is the head of global capital markets in Asia and has played a vital role in some of the Asia’s biggest public offerings. Sharlyn Wu is senior banker.
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The suspended executives are believed to be involved in the recruitment of Joyce Wei, daughter of the chairman of Tianhe Chemicals.
UBS, however, has declined to comment on the issue.
Currently, UBS is closely working with Tianhe on a Hong Kong IPO later in 2014 to raise US$1 billion.
Wei, who joined UBS in October, served at JPMorgan from January 2012 to August 2013.
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