Ellen Tseng joins Nomura from Morgan Stanley

Tseng will help build the bankÆs coverage capabilities as head of Taiwan research.
Nomura has appointed Ellen Tseng as head of Taiwan research, replacing Ben Lee, who has left the bank and the industry to pursue other opportunities. Tseng previously worked with Morgan Stanley as executive director of equity research.

Tseng, who took up her new role last month, will lead the bankÆs Taiwan team in building up the firmÆs research coverage in the local market. She will be based in Taiwan and report to Stewart Callaghan, NomuraÆs head of Asia research.

ôEllen is a top rated analyst who has deep and broad penetration and high votes with clients in Asia, the US and Europe, as well as exceptional corporate relationships and industry contacts,ö says Callaghan, in a written statement. ôWe have every confidence that Ellen will lead the Taiwan research team to significantly higher rankings.ö

Tseng spent six years at Morgan Stanley, specialising in research on Asia PC systems and downstream companies. Prior to that, she worked at ABN AMRO as a research analyst. She has also had sales engineering roles in the PC industry itself.

Nomura has been progressively strengthening its Asia research team. In June, the firm poached Jim Wong from BNP Paribas to head its Asia transport and infrastructure research and in March, the firm hired Rachel Tsang from Daiwa Securities as head of oil and gas research. Within Asia, the Japanese investment bank currently offers equity research covering Hong Kong, China, Singapore, Malaysia, Taiwan, Korea, India, Indonesia, Australia, and Thailand.
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