Well-regarded strategist Nick Tan will rejoin UBS Warburg in June. The Merrill Lynch strategist will leave his Kuala Lumpur base and join UBS in Hong Kong.

Tan will switch from his current role writing Malaysian strategy to head up UBS Warburg’s Asian small cap research. For UBS this comes on the back of its recent high profile hire of John Wadle from JP Morgan to head regional bank research.

It is a welcome return for Tan, who left Warburg for Merrill in June 1999. He joins a venerable list of analysts who have left Warburgs only to decide to return. Vincent Chan went to HSBC and returned; Tracey Yu went to ABN and did likewise; Carol Lin went to Morgan Stanley only to return; as did Tina Ibarra who went to CLSA.

And Tan leaves Merrill at an interesting time. Merrill has just reorganized its regional reporting structure. Southeast Asian research will now report into Michelle Ring in Sydney.