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Report: Former UBS Asia i-bank head returns to role

UBS GroupAG reappointed Matthew Grounds as head of investment banking forAsia-Pacific, The Australian Financial Review reported July 19.

He had previously held the same position until 2014, movingto focus on leading the Swiss bank's Australian and New Zealand operations.

Grounds will replace Matthew Hanning, who had taken overresponsibilities for the regional Asia-Pacific position two years earlier.

Hanning is likely to take up a role in Australia, though itis unclear if he will remain with UBS, the report said.