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UPDATE 1-UBS names Stewart metals, mining head for Asia-Pacific -memo

Published 05/05/2011, 04:59 AM
Updated 05/05/2011, 04:17 PM
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* 23-year veteran banker to head Asia-Pac metals and mining

* Stewart replaces Loftus-Hills, who left for Moelis (Adds details on Stewart, changes at UBS)

By Elzio Barreto

HONG KONG, May 5 (Reuters) - Swiss banking giant UBS AG on Thursday named Campbell Stewart as head of metals and mining for Asia-Pacific, as the top equity underwriter in the region for six-straight years reshuffles its team in the region.

Stewart, a 23-year UBS veteran, led the bank's resources team in Australia and was also head of investment banking in Melbourne, according to an internal memo seen by Reuters.

Stewart replaces Patrick Loftus-Hills, who resigned last month from UBS to join boutique advisory firm Moelis & Co.

UBS has experienced high-profile exits over the past year in Asia, including Matthew Koder who recently joined Bank of America and David Gray, Hong Kong-based head of the UBS prime brokerage unit in Asia-Pacific, who left last month after 17 years at the firm.

UBS has also hired several executives and promoted others as it rearranges its teams in the region. [ID:nL3E7FK03D] (Editing by Chris Lewis)

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