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UBS bolsters utility research team in Asia Pacific

Hong Kong | | Media Releases APAC

In recognition of the growing importance of the utility infrastructure sector in Asia Pacific, UBS has strengthened its research platform in this key area with the appointment of Stephen OLDFIELD as Head of the number one-ranked Asian Utilities research team.

Oldfield, who joins from Goldman Sachs, will be responsible for Hong Kong and China coverage, UBS's regional strategy product, including coordination of UBS's existing coverage in India, Korea, and South East Asia, in addition to coverage of China water, gas and infrastructure-related stocks.

"Stephen's track record and standing within the utilities sector are extremely strong. His 10 years of experience as a top-ranked sell side utility analyst will be invaluable in providing further momentum to our highly-ranked utilities research team," said Nicholas PINK, Head of Asian Equity Research for Asia at UBS.

In his previous role, Oldfield focused on China, Hong Kong, Korea, Malaysia and Thailand stocks and was responsible for initiating coverage of the alternative energy sector. Between 1996 and 2000, he was a utility analyst at Lehman Brothers and before that, was an auditor at accountants, KPMG. In a related move, Christopher WONG has been hired to cover Hong Kong and China water and gas stocks and to support in the coverage of Hong Kong and China electricity stocks as well as for UBS's regional product. Wong also joins from Goldman Sachs, where he was a junior analyst, and will report to Oldfield. Previously, he was an auditor in Hong Kong.

"These important hires underline UBS's determination to maintain and enhance the quality of market leading research product," added Pink.

The appointments are effective from 5th February.

UBS's market-leading equity research business in Asia includes in excess of 100 analysts and associates covering more than 500 stocks in the region. UBS was ranked Number One for the sixth consecutive year in Institutional Investor's All- Asia Research Poll and Best Overall Brokerage Asia ex-Japan by Asiamoney in 2005 and 2006.

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