UBS has made two appointments to its Hong Kong equity finance team in the wake of the departures of Richard Johnston and Andrew Sinclair.

Matt Pecot has been appointed head of equity finance replacing Johnston, who recently resigned to pursue outside interests. Pecot will be responsible for prime brokerage, and along with Mas Iwata, will co-head equity finance activities in Asia-Pacific. In his new role, Pecot will report to Alex Ehrlich, global head of equity finance and Chi-Woon Yoon, head of Asian equities.

Previously, Pecot spent two years as UBS's regional head of equity sales in Hong Kong and for five years ran the bank's offices in both Indonesia and the Philippines.

"I'm confident that Matt's appointment will provide further momentum to our burgeoning prime brokerage and equity finance business," comments Brad Orgill, head of equities for Asia Pacific." His experience in both Asia and UBS's equities business will complement Mas's deep understanding of the Japanese market."

UBS is also welcome Sangkyo Lee from Samsung Securities in Seoul to the equity swaps trading desk in Hong Kong. Reporting to Joseph Cavatoni, head of equity swaps in Asia, Lee will concentrate on the Korean market and assist with trading activity with the local trust and execution desks.