UBS Group AG appointed Amy Lo and August Hatecke co-heads of its wealth management business in Asia-Pacific, The Business Times reported, citing an internal memo.

The appointments will take effect Jan. 1, 2019. Lo and Hatecke will replace Edmund Koh, who was recently appointed the Swiss bank's head of the Asia-Pacific wealth-management unit.

Lo has been serving as head of wealth management in Greater China for the bank and country head of UBS Hong Kong since 2014. Hatecke has been the bank's head of wealth management in Southeast Asia since 2016, according to the report.