Susumu Okamura
Head of Japan

Tokyo, 25 November 2008 - UBS Global Asset Management (Japan) Ltd today appointed Susumu OKAMURA as president and representative director, effective immediately. Okamura assumes the role from Christof KUTSCHER, member of UBS's Group Managing Board and head of UBS Global Asset Management for Asia Pacific, who has concurrently held the position of President and representative director of UBS Global Asset Management (Japan) since June 2007.

Susumu Okamura

Most recently Head of the Institutional Marketing and Products for UBS Global Asset Management (Japan), Okamura brings a wealth of experience to the role. Before joining UBS in October 2005, he spent 20 years working for Dai-ichi Mutual Life Insurance Company in a variety of senior positions in Japan and the US. In 2000, he was named president and CEO of the US division of DIAM Co., Ltd. In the new role, Okamura will continue report to Kutscher, who will relocate to Hong Kong to focus on his role as Head Asia Pacific.

"I am confident that Okamura-san's experience and wide-ranging knowledge of the funds management industry will provide further momentum to UBS Global Asset Management Japan's strategy of further enhancing its engagement with Japanese clients while, at the same time, delivering UBS's global expertise and resources," said Kutscher.

"We have repositioned our Japan business over the past two years; especially our wholesale, mutual fund business which is thriving notwithstanding the difficult market conditions. With Okamura-san at the helm we will provide our clients in Japan with top service and products tailor-made for the Japanese market," said Kutscher.

Professional History
Susumu Okamura is President and Representative Director of UBS Global Asset Management (Japan) Ltd. Prior to taking on this role, Okamura was Head of the Institutional Marketing and Products. Before joining UBS in November 2005, he worked for 20 years for Dai-Ichi Mutual Life Insurance Company and its subsidiaries. In 2000, he was named the President & CEO of the US division of DIAM Co., Ltd. He has worked in global credit research and forex trading, has strong international management experience and a wide-ranging network in Japan's financial sector.

Education
Okamura graduated from Columbia University in 1994 with a Master of Business Administration, and from University of Tokyo in1985 with a Bachelor of Law.