To further strengthen the bank's research team in Korea, UBS has appointed Young W Chang as managing director and head of equity research, and Duncan Wooldridge as executive director and member of the Asia Economics team with primary focus on Korea and Taiwan.

Prior to UBS, Chang worked at Goldman Sachs, focusing on Asia Pacific steel as well as auto, shipbuilding, building material, and Internet sectors in Korea.

"In his new role, he'll be responsible for strategy, covering selected stocks and reinforcing the excellent equity franchise UBS already has in Korea," says Michael Oertli, head of Asian Equity Research at UBS.

Meanwhile, Yong-Suk Son, also from GS, will join UBS as analyst, covering selected industrial and construction companies.

Wooldridge is joining the Asia Economics Team from Petra Capital, a hedge fund he co-founded. Previously senior economist for North Asia at Merrill Lynch and country economist at ING Baring Securities in Taiwan, Wooldridge has extensive knowledge about the Korea and Taiwan market.

"The wealth of experience Duncan gained as a top-rated economist at Merrill Lynch as well as on the buy-side as a founder of Petra Capital will add a valuable dimension to UBS's coverage of Korea and Taiwan," comments Jonathan Anderson, head of Asia Pacific Economics.