Funding banking group UBS has appointed jack Cooling as a spotlight of sustainability and local weather danger for the Asia Pacific.
Collings strikes into the function after practically two years as head of sustainability danger at Credit score Suisse, which UBS acquired a 12 months in the past. Will probably be based mostly in Singapore.
He replaces Julie Xu, previously head of APAC sustainability and local weather danger, who has moved into a brand new function in UBS’s world wealth administration crew in APAC. Collings will report back to UBS’s head of world sustainability and local weather danger, Licelot Arne, who relies on the firm’s headquarters in Zurich.
UBS has dedicated to attain web zero emissions in Scope 1, 2 and three by 2050. Nonetheless, the financial institution’s place on coal financing got here into query two weeks in the past, when Bloomberg reported that UBS would scrap plans to finish fossil gas financing. which was backed by Credit score Suisse. The merger of UBS and Credit score Suisse was the primary of the web zero period.
Information of job cuts from UBS’s non-public banking division emerged this week following a drop in income.
Collings brings expertise to the function with finance regulator the Financial Authority of Singapore, the place he was assistant director of environmental danger administration, and HSBC, the place he labored for 9 years, later as senior sustainability danger supervisor based mostly in London. .