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Jackson Hsieh to Join UBS Warburg as Head of U.S. Real Estate, Lodging and Leisure Banking

| Media Releases Americas

NEW YORK -- UBS Warburg announced today that Jackson Hsieh has agreed to join the firm effective in April, as a managing director and head of the U.S. Real Estate, Lodging and Leisure Investment Banking group. Based in New York, Mr. Hsieh will report to Kenneth D. Moelis, managing director and head of Investment Banking in the Americas.

Mr. Hsieh will join UBS Warburg from Morgan Stanley where he serves as a managing director and global head of the Lodging and Leisure group focusing primarily on strategic advice and capital raising for owners and operators of hotel properties. Most recently he was involved in the spin-off of Fairmont Hotels from Canadian Pacific, Hilton Hotels-Promus Hotels merger, Raffles Hotels acquisition of Swissotel and the recapitalization of Extended Stay America. While at Morgan Stanley he also served on the firm's investment committee for Morgan Stanley's International/Domestic Opportunistic real estate funds. Since 1987, Mr. Hsieh has completed numerous investment banking assignments for global real estate clients across various property sectors.

"Jackson is a banker of the highest caliber and a trusted advisor to a range of international corporate and real estate clients," said Moelis. "His expertise will prove invaluable in building UBS Warburg's presence in these important sectors."

UBS Warburg is a business group of UBS (NYSE: UBS), one of the largest financial services firms in the world with 71,000 employees in more than 40 countries. UBS Warburg is a leader in equities, corporate finance, M&A advisory and financing, financial structuring, fixed income issuance and trading, foreign exchange, derivatives and risk management.

CONTACT: Denise M. Kazmier of UBS Warburg, +1-212-713-3090