UBS Hires Japan Banking Analyst Shinichi Ina From Credit Suisse

UBS AG (UBSN), Switzerland’s biggest bank, said it hired Shinichi Ina from Credit Suisse Group AG (CSGN) as a banking analyst to expand its equity research for financial institutions in Japan.

Ina, 36, will join UBS in Tokyo as an executive director on Sept. 20 covering Japanese banks including Mitsubishi UFJ Financial Group Inc. (8306) and starting new coverage of regional lenders, said Eiko Noda, a Tokyo-based UBS spokeswoman.

Competition between UBS and other overseas banks to hire research staff in Japan has intensified as rival firms aim to boost commissions and fees from stock trading and underwriting, as well as acquisition advisory in the country. Credit Suisse Group AG earlier this week hired Yuki Nakayasu, a former analyst at UBS, to cover Japan’s Internet industry following BNP Paribas SA’s hire of Toyoki Sameshima, a former analyst at Goldman Sachs Group Inc., in May to cover Japanese banks.

UBS was ranked third among equity research firms in Japan, according to a survey compiled by Institutional Investor in April, maintaining last year’s standing. The Zurich-based bank this month added Sony Financial Holdings Inc. (8729) to its coverage.

Credit Suisse, Switzerland’s second-largest bank, in July halted its coverage of Japanese banks due to Ina’s departure.

To contact the reporters on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net; Shunichi Ozasa in Tokyo at sozasa@bloomberg.net

To contact the editors responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net; Frank Longid at flongid@bloomberg.net