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INSTITUTIONAL INVESTMENT | Cesar Tordesillas, Hong Kong
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UBS appoints Brown, Tang in research posts

UBS Investment Bank appointed Andy Brown as a Managing Director and Head of Financial Institutions Research.Brown, who will be based in Hong Kong, joins from Cheyne Capital Management (Hong Kong) where, for the last three years, he was Chief Investment Officer for Asia.Between 2000 and 2005, Brown worked for Morgan Stanley as Head of Asian and Global Financial Institutions Research. During that time, he was ranked either Number One or Two in Institutional Investor's All-Asia Research rankings. Before that, he headed Global Emerging Markets and Asian Banks research at Deutsche Bank and Salomon Brothers, respectively.Brown has a Bachelor of Finance from Virginia Tech and is a Chartered Financial Analyst.UBS also appointed John Tang as an Executive Director with primary responsibility for China H-share strategy.Tang will be based in Hong Kong and work closely with the Firm's China A-share strategist, Chen Li. Tang comes from JP Morgan Securities where he was Head of Asia Small Caps Research and was ranked Number One and Number Two in Institutional Investor's All-Asia Research rankings in 2008 and 2007, respectively.Between 2000 and 2006, Tang worked as an analyst at Goldman Sachs in Hong Kong and, before that, as a consultant for the Boston Consulting Group in Shanghai and Hong Kong.Tang has a Bachelor of Engineering in Industrial Foreign Trade from Shanghai Jiao Tong University, and an MBA from Harvard Business School."These senior appointments underline our commitment to retaining and recruiting the best available talent in order to provide market-leading equity research for our clients," said Julian PICKSTONE, Head of Asian Research at UBS Investment Bank.

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