UBS hires former UK chief science adviser

The logo of Swiss bank UBS AG is pictured at one of its buildings in Lucerne April 4, 2008. REUTERS/Michael Buholzer

LONDON (Reuters) - Swiss investment bank UBS UBSN.VX said on Friday it had hired as science adviser David King, former chief scientific adviser to the British government partly credited for the country's strong climate change stance.

UBS hired King as senior scientific advisor to the group and its clients, advising on all scientific matters with particular emphasis on global warming.

Increasing political concern over climate change is spawning support for efforts to curb greenhouse gas emissions, including subsidies for non-fossil fuel alternative sources of energy, and a penalty on carbon emissions through trading schemes.

Investment is soaring in clean energy and carbon markets, worth $150 billion (76.1 billion pounds) and 40 billion euros (32.1 billion pounds) last year respectively, analysts say.

“We have many clients globally who will be delighted to tap into Sir David’s internationally respected expertise,” said William Waldegrave, vice chairman investment banking.