UBS Warburg has snared Min Park and Chang Sik Cin from Merrill Lynch to boost its equity derivatives risk services offered to institutional investors, corporate clients, and high-net-worth individuals.The investment banking unit of Switzerland’s UBS named Park managing director and head of structuring for risk management products, while Cin becomes a senior marketer, at executive director level. They will both work within the bank’s Hong Kong equity derivatives unit.Park was initially director of equity-linked products for Merrill Lynch in Seoul before taking on a similar role in Hong Kong. Prior to this, he worked in the sales, foreign exchange, interest rate and equity derivatives division of Bankers Trust in Seoul between 1992 and 1996.
Cin sold global and domestic equity-linked products at Merrill Lynch in Hong Kong following a five-year stint selling equity-linked products at Bankers Trust in Seoul.
Both will report to Chi-Won Yoon, head of equity risk management for Asia at UBS Warburg. Yoon said the appointments would strengthen the bank’s equity risk management capabilities, especially in the Korean market.
UBS Warburg devised and launched what it claimed was Hong Kong’s first equity-linked note, made available to the general public in November last year.
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