Bloomberg reported that UBS AG has hired Ms Olivia Ker and Mr Tom Price from Bank of America Merrill Lynch & Co to strengthen its global commodities team.

Ms Ker, who covered BHP Billiton Limited, Rio Tinto Group and Alumina Limited for Merrill, joins UBS’s mining research team in London focusing on diversified mining stocks. Price will become a director of UBS’s commodity research team in Sydney, covering industries including iron ore and coal.

UBS, last week announced hires of more than 20 senior bankers from rivals including Merrill and Goldman Sachs Group Inc to strengthen its fixed income unit.

Ms Ker, who was at Merrill in Sydney for two years and previously worked at BHP for four years, will cover BHP and Rio Tinto with Glyn Lawcock, Anglo American Plc with James Bennett, as well as Xstrata Plc.

Mr Price worked as a commodity analyst at Merrill in Sydney and had worked at Citigroup Inc and AME Mineral Economics. Both Ms Ker and Mr Price start their positions in mid October 2009.

(Sourced from www.bloomberg.net)