Ben Horner joins UBS in prime-broking sales

Hedge-fund veteran Ben Horner is joining UBS in Hong Kong as an executive director to work in its prime-broking sales department covering hedge funds in Asia.

He most recently worked as chief operating officer at Cranmore Capital, a Hong Kong-based hedge-fund platform started by Kurt Baker, formerly Asian head of prime broking at Morgan Stanley. That project did not come to fruition, with Horner subsequently leaving Cranmore and Baker joining Larry Zhang to start a Greater China hedge fund named JT Capital. Before joining Cranmore last year, Horner was head of equity financing at hedge fund Elliott Advisors in Hong Kong.

At UBS, he will report to Tamera Hodges, who is relocating from London to Hong Kong as head of prime-broking sales for Asia-Pacific. She was previously a member of the prime-broking sales team for Europe and succeeds Ashley Jarvis, who was promoted last month to global head of business and capital consulting in the prime-broking division.

In other UBS prime-broking action, Cheryl Lau has been appointed to the capital-introductions team in the rank of director, reporting to Jarvis. She moved from hedge fund Hill House.

With another hire also imminent, these appointments will fortify the UBS capital-introductions team, which recently lost Hugh Abdullah, who has set sail for the capital-introductions team at Morgan Stanley.