The Internet sector has pulled another analyst into its vortex.
Michael Leary, formerly responsible for property coverage at Lehman Brothers, recently moved to the team that covers telecommunications, Internet and media stocks.
Mr Leary said he considered the area an extension of his previous sector, in light of the move into the technology sphere by Hong Kong's businessmen.
He will focus in particular on business-to-business Internet services.
Most of the region's Internet analysts are new in their field, as the sector barely existed in Asia until last year. It is more common for analysts to make the jump to Internet from another technology sector, telecommunications or media.
Analysts are also in demand as Internet specialists are lost to Web start-ups. Lehman's head of Asian Internet research, Ravi Sarathy, made a recent move himself, although he remains a consultant to the investment bank. CATHY HOLCOMBE