UBS’s (UBSN.VX) joint head of equity capital markets and a 10-year veteran at the bank, Sutha Kandiah, has resigned, a source with knowledge of the move told Reuters on Wednesday.

Kandiah, who was based in Singapore, oversaw multi-billion dollar equity deals in the region such as Malaysia’s Maxis’s (MXSC.KL) US$3.3 billion ($4.6 billion) IPO and share sale of Southeast Asia's  biggest bank DBS (DBSM.SI). In the past, he also headed Japan's  equity capital market team. 

His departure comes a few months after the resignation of UBS’s joint head of corporate finance Southeast Asia, Parvati Banati. 

A UBS spokeswoman declined to comment on Kandiah’s reported resignation. 

The Swiss bank made changes last year to its Singapore investment team, poaching Keith Magnus, a high profile investment banker, from Bank of America’s Merrill Lynch, to oversee investment banking operations in Singapore and Malaysia.

Magnus brought in Harmeet Singh Bedi from Merrill, who became co-head of Southeast Asia for M&A and corporate finance, sources had said.

Singapore is home to two of the world’s biggest sovereign wealth funds — Temasek (TEM.UL) and the Government of Singapore  Investment Corp.