HONG KONG: JPMorgan has hired UBS banker Peihao Huang to become the co-head of its equity capital markets (ECM) business in Asia, not including Japan, according to two sources with direct knowledge of the matter.

Huang was UBS's head of Asia ECM but resigned from the Swiss bank on

Monday to join the US firm, the people said.

The sources could not be named because the information has not yet been made public. JPMorgan and UBS declined to comment.

At JPMorgan, Huang will be the co-head of ECM Asia, ex-Japan, alongside Gregor Feige.

UBS will have its head of Asia Pacific Capital Markets Lauro Baja cover Huang's responsibilities, one of the sources said.In October, JPMorgan appointed Francesco Lavatelli to become the head of its ECM business for Asia Pacific, according to a memo sent to staff at the time.