UBS Warburg plans to start structuring synthetic collateralized debt obligations in Asia. It has hired Robin Willis, managing director of structured products at Bear Stearns, as head of principal finance in Hong Kong, to lead the effort, according to Joonkee Hong, managing director and Asian head of debt capital markets in Hong Kong.
"Willis was the biggest CBO player in Asia [when he was] at Bear Stearns," said Susan Law, managing director of TPL Executive Search in Hong Kong, adding, "he's definitely an asset to UBS."
Willis reports to Adrian Phizer, Asian head of principal finance in Tokyo. Phizer said the firm is studying marketing structured products including synthetic collateralized debt obligations, but declined further comment saying the firm is in the early stages.