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James Hong appointed Chairman of UBS Global Asset Management Greater China

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In line with UBS Global Asset Management's commitment to increasing its focus on China, James HONG, previously head of the Alternative Investment Strategies (AIS) group, has been appointed Chairman of UBS Global Asset Management for Greater China.

The appointment underscores the strong focus of all UBS businesses on China as a core market, as well as offering an opportunity for UBS Global Asset Management to further deliver the firm's integrated business model to its clients.

In his new role, James will be responsible not only for directing strategy and ensuring the seamless development of the business in China but also for leveraging off the substantial resources and commitment which the global asset management and investment banking businesses already have in place in the region.

"As well as working closely with product and investment specialists within the asset management business, I am confident that the access James will have to the investment bank's fixed income and equity sales teams throughout Greater China will prove to be invaluable in the development of corporate relationships," said Kai SOTORP, Head of UBS Global Asset Management in Asia Pacific.

"Greater China represents the single largest investment market growth opportunity worldwide and UBS Global Asset Management is determined to ensure that its range of global capabilities are available to these markets in the most efficient way. James' appointment is critical in this regard, and he brings tremendous experience and client contacts, as well as a wealth of investment specialist expertise," he added.

As part of his broader role, James will also head the UBS Global Asset Management's Alternative & Quantitative (A&Q) business in Asia, the focus of which is on hedge funds. His responsibilities include ensuring that strategic initiatives are implemented and that the region is represented at senior management level within A&Q. He will continue as chairman of the investment committees for the capabilities managed by the Hong Kong team.

Hong, who joined UBS in 1996, has in excess of 18 years' investment experience and has focused for more than 10 years on alternative strategies investment management.

Hong Kong, 9 February 2004