UBS Group AG appointed David Chin as the new head of its Asia-Pacific corporate client solutions business, Reuters reported Aug. 11, citing an internal company memo.

Chin will assume the role in early September, replacing Sam Kendall, who was named head of the bank's global equity capital market business.

Chin is returning to the Swiss banking group after departing in 2015 to pursue academic interests.

A spokesman for UBS Group confirmed the content of the memo, the news outlet reported.