© Reuters. FILE PHOTO: The brand of Swiss financial institution UBS is seen at a department workplace in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Picture
ZURICH (Reuters) – UBS has employed two bankers from Morgan Stanley (NYSE:) to assist construct its buying and selling companies for hedge funds and asset managers within the United Sates, in keeping with a memo seen by Reuters and confirmed by a spokesperson for the Swiss financial institution.
The brand new recruitments are part of a broader initiative inside the financial institution to raise its so-called execution hub, permitting hedge funds and asset managers to outsource their buying and selling to the lender.
Jon Slavin, beforehand World Head of Fairness Buying and selling at Morgan Stanley Funding Administration, has been appointed UBS’s Head of Execution Hub, Americas. Sherri Cohen, who beforehand headed international rising markets at Morgan Stanley’s funding administration arm and led infrastructure improvement for the unit’s buying and selling programs, has been named to steer enterprise improvement of the execution hub in america.
“On this position, Jon might be chargeable for organising and operating our U.S. buying and selling workforce and driving our regional shopper technique,” Mark Goodman, international head of the financial institution’s execution hub, informed workers in a memo.
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