Chin joins from UBS Investment Bank in Hong Kong where, since 2006, he was Head of Asian Equities Sales.

During his 13 years with UBS, Chin has held a variety of senior roles, including Co- Head of UBS Securities, Seoul Branch, and Head of Equities at UBS Securities in Korea, as well as Head of UBS Securities and Head of Equities in Taiwan. Previously, he worked in various roles in Corporate Finance, Fixed Income and Equities for Lehman Brothers, Schroder & Co, and for Credit Suisse First Boston in New York, Hong Kong, and Seoul. Chin holds a Bachelor's Degree in International Relations from the University of Virginia.

Current CEO of UBS Hana, Andreas NEUBER, who successfully led the integration efforts over the last two and a half years, remains as Chairman of the Board of Directors. Ensuring continuity in the further development of UBS Hana Asset Management is important to both shareholders.

"I am confident that Michael's broad experience of both Korean and regional financial markets as well as his proven leadership skills will ensure that UBS Hana Asset Management quickly builds on the solid platform established over the past two and half years," said Neuber.

"I am exceedingly grateful for the support of the entire team over the period. Without their outstanding dedication and hard work, combined with the support of our shareholders, Hana Financial Group and UBS AG, we would not occupy the leading market position we enjoy today," he added.

Established in July 2007, UBS Hana Asset Management is a joint venture between UBS Global Asset Management and Hana Financial Group, in which UBS owns a 51% stake.

UBS Hana Asset Management is one of leading asset managers in South Korea. At end November 2009, it had about KRW20 trillion of assets under management.