RPT-UPDATE 1-UBS hires Magnus for S'pore, Malaysia-sources

(Repeats story which ran on July 26th with no change to text)

* Keith Magnus last headed Merrill's S'pore-Malaysia i-bank

* Banks poaching top bankers as markets recover

* Merrill has lost many bankers since BofA takeover

By Saeed Azhar

SINGAPORE, July 26 (Reuters) - UBS (UBSN.VX) has hired Bank of America-Merrill Lynch banker Keith Magnus to head the Swiss bank's investment banking business in Singapore and Malaysia, sources close to the matter told Reuters.

Magnus has been head of BofA-Merrill Lynch's investment banking business in Singapore and Malaysia since early 2007. "UBS has hired Keith Magnus as head of investment banking business Singapore and Malaysia," one of the sources said.

One of Merrill's top-performing bankers, Magnus oversaw nine publicly announced deals in the last 12 months, one of the sources said.

These included CapitaLand's (CATL.SI) $1.2 billion rights issue and Keppel Land's (KLAN.SI) $490 million share sale.

This is a newly created post for UBS and shows its commitment to the region, the sources said.

Singapore, home to two of the world's biggest sovereign wealth funds, the Government of Singapore Investment Corp and Temasek Holdings [TEM.UL], is a big draw for investment bankers.

Magnus will report to Matthew Hanning and David Chin, the joint heads of Investment Banking, Asia, sources said.

Merrill was not available for comment and UBS declined to comment.

SHARE SALES, IPO HOPES?

Magnus's hiring comes at a time when Asian companies are tapping banks to help them raise cash through share sales and debt. Bankers are also predicting a revival of initial public offerings in the second half of the year, led by Chinese firms

It is also a sign that global banks, hit hard by the credit crisis, have begun to selectively hire senior bankers again as capital markets recover from last year's meltdown.

UBS, like many of its rivals, lost a lot of bankers in Asia, either through lay-offs or to other banks. After posting huge losses from exposure to subprime mortgage securities, the bank cut back on bonuses, which prompted many to leave. It remains one of Asia's top investment banking houses, however.

Magnus's departure is a blow to Merrill Lynch, which has lost a number of bankers since Bank of America (BAC.N) agreed to buy the bank last year.

Merrill's China Investment Banking Chairman Margaret Ren, a relative of a former Chinese premier, left the bank in May, sources told Reuters. [nHKG373123].

Earlier this month BofA-Merrill Lynch's head of Southeast Asia corporate and investment banking, Roger Suyama, left the bank for personal reasons, sources said. [nSIN389544] (Editing by Will Waterman)