People Moves

Senior Reshuffle At UBS Investment Bank

Harriet Davies 26 January 2010

Senior Reshuffle At UBS Investment Bank

In a reshuffle designed to bring its equities and fixed income, currencies and commodities (FICC) departments closer together, UBS has appointed Neal Shear as global head of securities at its investment bank.

Mr Shear joins the company from Morgan Stanley, where he was most recently co-head of sales and trading, with responsibilities across equities and fixed income, and was also one of the founding members of its global commodities business.

“Neal will be responsible for driving a more aligned approach across equities and FICC, a cornerstone in our strategy for an integrated client-centric investment bank built around flow and advice,” said Carsten Kengeter, co-CEO, UBS Investment Bank.

In addition Roberto Hoornweg, latterly head of global interest rates, credit and currencies at Morgan Stanley, joins the Swiss bank as global head of securities distribution.

“Increasingly, clients are directing their business to firms who can service their multi-asset needs most effectively. We believe that by bringing our equities and FICC distribution teams more closely together under the leadership of Roberto, we can better leverage our world-class product delivery capabilities for our clients,” said Alex Wilmot-Sitwell, co-CEO, UBS Investment Bank.

Following these appointments, Mr Kengeter will relinquish his additional role of joint global head of FICC; Rajeev Misra, global head of credit, and Dimitri Psyllidis, global head of macro, will both take on this additional role. Jeffrey Mayer, joint global head of FICC, will take on the newly-created role of executive chairman of FICC, and Messrs Shear, Hoornweg, Misra and Psyllidis will all become members of the investment bank executive committee.

 

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