Ex-UBS banker to lead Merrill Australia ECM -source

SYDNEY, June 25 (Reuters) - Merrill Lynch Australia has hired a former UBS banker, Guy Foster, to head its equity capital markets (ECM) business, a source briefed about the situation told Reuters on Thursday.

Merrill Lynch declined to comment while Foster could not be reached for a comment.

Foster would take up his new role at Merrill Lynch from September, the source said. The source declined to be identified as a formal appointment had yet to be announced.

Foster, who was the former co-head of equity capital markets at UBS Australia, will report to Jason Murray who heads Merrill Lynch's overall capital markets business.

A pick-up in mergers and acquisitions and more than $20 billion in capital raisings by Australian companies so far this year are encouraging investment banks in Australia to hire more staff. [ID:nSYD500479]. (Reporting by Denny Thomas; Editing by Mark Bendeich) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))