On the move

Ex-UBS man Qu to launch fintech firm

Qu Hongjie, former managing director and head of electronic trading at UBS Securities Co, UBS Group AG's China branch, is to start his own financial technology firm. He declined to provide further details. Qu was replaced by Kitty Li at UBS. Qu helped make the Swiss bank's equity algorithmic trading strategy among the most popular in China. UBS Securities is a brokerage joint venture UBS Group set up with four Chinese investors in 2006. The bank has a 24.99 percent stake in the venture and has management control. Prior to joining UBS, Qu worked as an executive director at Beijing Gao Hua Securities, a Chinese firm that has a joint venture with Goldman Sachs Group Inc, where he set up and ran its China electronic trading unit.

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