UBS re-hires Zhang for China job

UBS strengthens its China investment banking team by welcoming back Joe Zhang.
In an effort to beef up its China investment banking unit, Swiss banking group UBS has hired back Joe Zhang as deputy head of investment banking in China. Zhang was co-head of China research at UBS from 1999 until 2001 and then head of China research until 2006.

Zhang is known for his entrepreneurial skills û indeed he left UBS to join the corporate world û and his capital markets knowledge will help the bank to forge ahead in China.

Zhang joins from Shenzhen Investment, where he was chief operating officer, and will take up his new responsibilities on September 29. He will report to Henry Cai who, in addition to his current role as chairman and head of investment banking for China, is about to assume an expanded role as vice-chairman of investment banking for Asia.

"The strength of the business will be further bolstered by the return to the UBS fold of Joe Zhang. Many of the seeds of our current success were sown during JoeÆs earlier incarnation as head of China research,ö says Robert Rankin, head of UBS investment bank in Asia.

As head of China research, Zhang was voted the number-one ranked China analyst for four consecutive years in the research rankings and led the team ranked as the top China research team by Institutional Investor for five consecutive years. ôJoeÆs knowledge of China and its capital markets is unparalleled and we are delighted to welcome him into the investment banking team,ö Rankin says.

On CaiÆs appointment as vice-chairman of investment banking for Asia, Rankin says it is a well deserved recognition of his extensive achievements at UBS and of the importance of China to the investment banking business, and to UBS globally.

Since Cai joined UBS early in 2006, the bank has consistently been ranked high up in the China league tables and has completed a series of landmark transactions for Chinese companies.

ôIn his new role, Henry will continue to spearhead our investment banking businesses in China, ensuring that it remains the market leading franchise,ö says Rankin. öI am extremely confident that Henry and Joe together will provide a formidable leadership team for UBS in China,ö he adds.

Before joining UBS, Zhang was head of China research at WI Carr Securities and HSBC Securities. And before that, between 1986 and 1988, he was senior economist for North Asia at CLSA Securities and, between 1991 and 1994, lectured in banking & finance at the University of Canberra.

Henry Cai joined UBS in March 2006 as chairman of UBS investment banking, China. Previously, he had worked for Peregrine Investment Bank in 1997 rising to become co-head of investment banking, Asia at BNP Paribas Peregrine.

Between 1992 and 1996, he was a member of China's state council IPO team in Shanghai, and between 1987 and 1991 he worked within the industrial and transportation management group in the Shanghai government.
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