Damien Brosnan will step down as co-head of equity capital markets in UBS Group AG's Asian investment bank at the end of December, Thomson Reuters' IFR reported Dec. 15.

The departure comes as the bank restructures its Asian business, IFR noted. Peihao Huang, until now co-head alongside Brosnan, will take over sole leadership of the unit.

Brosnan previously headed UBS' Asia equity syndicate before taking up his current position seven months ago, IFR said.