More executive directors will get no bonus for 2018 compared with the year before.
North Asian buyout firm MBK Partners and Marunouchi Capital were also shortlisted to proceed to the next round of bidding.
Su’s promotion marks the first time that Bank of America has put a senior market executive into an Asian president role.
Almost 50 bankers in Hong Kong and Singapore have left in the past six months, or about 30% of the investment-banking workforce before the departures.
China first granted UBS Group AG approval for overseas majority control of a securities JV. Nomura Holdings Inc. and JPMorgan Chase & Co. have also applied.
The Toronto-based insurer is competing with other bidders including the billionaire Cheng family’s Chow Tai Fook (Holding) Ltd.
UBS is among the foreign banks that have gotten the furthest in building an onshore securities business.
With the government now allowing them to take majority ownership, some, like Citigroup, have been hamstrung by partners’ reluctance to sell.
Leland became a Goldman managing director in 2000 and was named partner in 2006.
Acquiring Ixom would help Keppel Infrastructure, led by recently appointed Chief Executive Officer Matthew Pollard, to widen its exposure beyond Singapore.