HONG KONG (Reuters) - UBS has hired former Lehman Brothers banker Jeff Ren as an Executive Director for its China investment banking team, poaching yet another banker from Lehman's Asia roster.

Ren will report to the bank's China head, Henry Cai, according to an internal memo obtained by Reuters on Monday. Ren's background is in corporate finance and mergers and acquisitions, the memo says, citing his involvement with a China Citic International Financial Holdings deal and Emerson Electric's $750 million (460 million pound) purchase of Huawei's Avansys Technologies.

"I believe Jeff's joining...will be key in driving our China M&A business," Cai said in the memo. Cai was promoted to vice chairman of UBS Investment Banking, Asia, in September.

When Lehman Brothers collapsed in September, British bank Barclays (BARC.L: Quote, Profile, Research) agreed to buy parts of the brokerage in the United States, with Japanese bank Nomura Holdings (8604.T: Quote, Profile, Research) scooping up parts of its Asian and European businesses.

That allowed thousands of Lehman employees to keep their jobs, but some high profile bankers have chosen to move to a competitor rather than be part of the new entity.

UBS early last month hired four Lehman Brothers investment bankers covering oil and gas in Asia, marking the third time that week Lehman bankers walked out on Nomura.

(Reporting by Michael Flaherty, Editing by Jonathan Hopfner)