Shakti Siva is to take over from Ian McLennan as Head of Asian equity strategy for UBS. Her new position will be effective at the start of 2004. Siva will be based in Singapore. She will report primarily to Michael Oertli who heads the firm's Asian research in Hong Kong.

Siva has been with UBS for over three years. In her current position as chief strategist for Australasia she has been a number one ranked analyst by Institutional Investor. Prior to joining UBS, Siva spent six years as associate director and asset allocation strategist at Ord Minnett. She has also held economic research positions at Macquarie Bank and Reserve Bank of Australia.

Commenting on her new role Siva says, "I have consistently been a number one rated analyst for Australasia. My target is to continue this record at the Asian strategy level." She further adds, "I'm aiming to make sure I make the right country calls and that clients make money as a result of this."

In her new capacity as head of Asian strategy, Siva will still be making calls on Australasia which will be included in her coverage area. She mentions that the firm will be looking for a new strategist to cover the day-to-day work for Australasia.

McLennan leaves Hong Kong to be relocated to London where he will be promoted to co-head of global strategy. He has spent six of his nine years with UBS as head of Asian equity strategy, and has regularly been one of Asia’s highest rated.