HONG KONG UBS AG UBSN.VX has hired Shaun Treacy from Nomura (8604.T) as co-head of its all industries group in Asia, according to an internal memo obtained by Reuters on Tuesday.
Treacy, a veteran natural resources banker who has previously worked at Lehman Brothers and JP Morgan, will continue to focus on that sector, and on metals and mining in particular.
At Nomura Treacy was global co-head of natural resources and power as well as chairman of corporate finance for Asia Pacific ex-Japan. He will start work at UBS in January after completing three months of gardening leave.
In the same memo UBS named Steven Drake, currently head of diversified industrials coverage, as Treacy's co-head.
(Reporting By Lawrence White; Editing by Daniel Magnowski)