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UBS names co-heads of Asia debt financing group

Deutsche Bank’s Deepak Dangayach joins Patrick Liu to lead the new division in Hong Kong.

UBS has appointed Patrick Liu and Deepak Dangayach as co-heads of its newly-formed Asia debt financing group. 

The division integrates several of the bank’s debt capital markets (DCM) teams, including cash, derivatives, structured finance and leveraged finance.

Liu and Dangayach will report to Saurabh Beniwal and Joseph Chee, co-heads of corporate-client solutions group, and to Gaetano Bassolino, head of DCM credit solutions. 

Dangayach was previously the head of high yield and leveraged debt capital markets, Asia, at Deutsche Bank. He has more than a decade of experience in Asia across bonds, leveraged/acquisition financing and structured/mezzanine financing. 

“We have a fantastic client franchise in the region across CCS and wealth management within which we see an increasingly attractive opportunity to provide tailored financing solutions,” said Beniwal and Chee in an internal UBS memo.

“Over the past few years, we have built a market-leading structured equity financing solutions business by capitalising exactly on this opportunity. We also have a leading position in DCM high yield and a consistent track record of providing marquee leveraged finance and structured loan solutions to clients.”