UBS hires Magnus to run investment banking units

SWISS bank UBS has hired Bank of America-Merrill Lynch&rsquo;s Keith Magnus to head up its investment banking operations in Singapore and Malaysia.<br /><br />Magnus, who previously ran BoA-Merrill Lynch&rsquo;s Singaporean and Malaysian investment banking activities, was at the heart of some of the bank&rsquo;s biggest deals in the past year.<br /><br />Magnus will report to Matthew Hanning and David Chin, joint heads of UBS investment banking in Asia.<br /><br />Asia has seen an increase in the number of firms enlisting banks to help them raise capital, with a raft of public offerings expected in the second half of the year.<br /><br />Magnus&rsquo; role is a new position at UBS, which is trying to rebuild its talent pool after bonus cuts prompted an exodus of investment bankers.