UBS is expanding its debt capital markets team and has made two new hires during the past couple of weeks. Eric Sim has joined as a managing director for corporate solutions, reporting to Guy Wylie, head of debt capital markets, Asia, and Lutfey Siddiqi, head of fixed income corporate coverage for Asia-Pacific and forex distribution, according to an internal memo.
Sim, who is based in Hong Kong, joined about two weeks ago. He will pursue “derivative opportunities on the back of DCM events” the memo said, adding that he will also provide risk management solutions and hedging ideas, as well as working closely with colleagues in fixed income, currency and commodities and investment banking to help identify client opportunities across primary debt capital markets funding and liability management.
Sim joins UBS from ANZ, where he was head of corporate derivatives sales. Prior to ANZ, he worked at Citi where he held a similar position within capital markets.
Also joining UBS is Ka-Man Choi, who comes aboard this week as an executive director, head of Asia medium-term notes (MTN). Choi reports to Paul Au, head of Asia debt syndicate at UBS. She will be based in Hong Kong and is responsible for originating and executing MTNs and private placements for regional and other international borrowers.
Choi joins UBS from J.P. Morgan, having led the firm’s MTN business in the region from 2008, when she was instrumental in building the firm’s third party MTN franchise in Asia, having executed a number of G10 and local currency transactions for Asian and international borrowers. Both Choi and Sim are filling newly created positions and are not replacing anyone.
According to Dealogic, UBS currently is fourth in the league tables for both G3 bonds and high-yield G3 bonds for Asia-ex Japan based on issuance year-to-date. It has raised $4.2 billion for Asian G3 borrowers and $1.4 billion for Asian high-yield borrowers so far this year.
