UBS Asia-Pacific chief Edmund Koh has described the local investment banking division as the “star bearer” for the region, predicting the franchise can only get stronger after a string of new hires following high-profile exits last year.

The Swiss-headquartered bank employs about 650 staff in Australia and New Zealand, with about 150 people making up its investment banking team, which is usually ranked first or second in terms of mergers and acquisitions and equity capital markets activity.