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UBS bolsters prime brokerage team in Asia Pacific

Hong Kong / Sydney | | Media Releases APAC

Underscoring its commitment to the development of its prime brokerage market in Asia Pacific, UBS has announced the appointment of David GRAY as the Head of Asia Pacific Prime Brokerage, based in Hong Kong. In a separate move, Colin TAYLOR has been named Head of Australian Prime Brokerage.

"It is a testament to the breadth and depth of talent available to us in Asia Pacific that we can promote from within. David's track record in building the Australian business is the ideal qualification for him to bring to his new role of developing our ever-growing Asian business," said Chi-Won YOON, Head of Asian Equities.

Gray joined UBS in 1994 and, in 2001, assumed responsibility for the development of the bank's prime broking business - the first to be located in Australia - implementing the front-to-back platform and sales efforts.

At the beginning of 2006, Gray was appointed Head of Prime Services and oversaw the integration of a prime services model in Australia including the integration of the ABN Amro Futures business. Gray takes over from Matt PECOT, who has relocated to New York to lead UBS's prime brokerage business in the United States.

"I am confident that Colin's in-depth knowledge of the prime brokerage business and his understanding of the highly complex needs of the hedge fund community in particular will maintain the substantial momentum of our business in Australia," said Gerard SATUR, Head of Australasian Equities.

Since its establishment in 2001, the prime brokerage business in Australia has gained a dominant market share supported by UBS's highly-ranked stock borrow team, leading equity franchise and the expanded exchange-traded derivatives business. Both Taylor and Gray have been instrumental in this success.

Taylor joined UBS in London in 1998 and was a member of the synthetic swaps, equity finance and prime brokerage teams before relocating to Australia in 2002.

UBS Prime Brokerage is the largest full service prime services provider in Australia. It covers sales, capital introduction, client services, business consultancy and start-up services and transition management. It is the only dedicated team servicing Australian hedge funds.

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