Thursday, May 15, 2008

UBS Announces Senior Management Changes in UBS Investment Bank

UBSUBS announced a number of management changes within UBS Investment Bank and organizational changes to the group risk control function. Within UBS Investment Bank, Daniel Coleman has been appointed global head of equities.

John Wall, formerly co-head of global equities with Coleman, will transition to a new position as global head of proprietary trading, with responsibility across equities and fixed income. Both Coleman and Wall will continue to report to Jerker Johansson, chairman and CEO of UBS Investment Bank.

In addition, Johansson will assume global responsibility for fixed income, currencies and commodities (FICC) on an interim basis, following Andre Esteves’ decision to step down as global head of FICC and focus full-time on his role as chairman and CEO of UBS Latin America, based in Brazil. Esteves will continue to advise Johansson on the risk management of positions within FICC’s Workout Group.

UBS announced the appointment of Philip Lofts as group risk chief operating officer and that Thomas Daula will join the firm in June 2008 as IB chief risk officer. Daula’s newly expanded role will include the responsibilities of the IB chief risk officer as well as the IB chief credit officer. Daula was most recently at Morgan Stanley, where he was chief risk officer, and will become a member of the group managing board, reporting jointly to Johansson and Joe Scoby, group chief risk officer. Loftswas most recently group chief credit officer for the firm.-Business Wire