UBS Warburg is considering setting up a fixed-income derivatives operation in Taiwan as the local asset-backed securities and structured bond market increases. Philip Tsao, managing director and joint head of the Asian debt capital markets group in Hong Kong, said, "A decision should be made by early next year."
The decision hinges on several factors including senior management approval, according to Tsao, who declined to elaborate. Trading is likely to be handled out of Hong Kong, the regional hub.
Currently, UBS has an equity brokering business in Taipei. Tsao joined UBS earlier this year from Goldman Sachs (DW, 1/28).
