November 03, 2008

UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) (UBS.N: Quote, Profile, Research, Stock Buzz) has hired former Lehman Brothers banker Jeff Ren as an Executive Director for its China investment banking team, according to an internal memo obtained by Reuters on Monday. Ren will report to the bank's China head, Henry Cai, who was appointed vice chairman of UBS Investment Banking, Asia, in September. Ren's background is in corporate financing and mergers and acquisitions, the memo says. UBS declined to comment about the move. (Reporting by Michael Flaherty; Editing by Anne Marie Roantree)