UBS Warburg has hired Christopher Lee in the bank's equity risk management group. Lee will run the intermediary desk, selling structured equity products to private banks and brokerages.

The move comes as private banks and high net worth individuals have more buying power in Asia than ever before. In addition they are demanding more products and greater professionalization of service. "The high net worth individual client segmnent is demanding more sophisticated equity risk management products," said Brad Orgill, head of Asia Pacific Equities at UBS Warburg in Hong Kong.

Lee joins UBS Warburg from Merrill Lynch where he had worked since 1995. He had worked at Merrill in San Francisco, New York and Hong Kong mainly in departments structuring equity and equity linked products for sale to individuals.