What is the equivalent of ORACLE's TRANSLATE funciton in SQL Server 2005

Question

Is there any equivalent function in SQL Server 2005 that will act in a similar fashion like the TRANSLATE funciton of ORACLE?

Well 1 option is to do with multiple REPLACE statement.

Another is to create a user define function.

I am talking about a built-in function in SQL Server (no work around)...

e.g. TRANSLATE('1tech23', '123', '456') will result into 4tech56.

In SQL Server using REPLACE the query will be

REPLACE(REPLACE(REPLACE('1tech23','1','4'),'2','5'),'3','6')

But for achieving the same set of result , I am using REPLACE 3 times which is a tedious job.

Thanks