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.