UBS AG (UBSN)’s Kaushik Amin, who led fixed income, currencies and commodities for the Americas, was among at least four executives to leave the bank’s operations in the region, said two people familiar with the matter.
Amin was joined by Jim Lanzilotti, head of local markets emerging markets trading for the Americas, and Matias Santa- Cruz, an executive director of Latin American equity capital markets, said the people, who declined to be identified because the moves aren’t public. David Cannon, a FICC managing director, also left the bank, the people said.
UBS, Switzerland’s biggest lender, has been buffeted by departures at the investment bank and a $2.3 billion loss last year from unauthorized trading. The Zurich-based firm has said it will shrink the fixed-income trading business, which will be less profitable under stricter capital rules.
The bank appointed Eric Rosen and Matthew Zola to co-head its FICC Americas business, replacing Amin, earlier this year, and the pair have added other employees, one person said. UBS hired Mac Budd as a managing director in rates trading and Dale Rodberg as a managing director in fixed-income distribution, both from MF Global Holdings Ltd. (MFGLQ:US), the person said. The company has added as many a seven executive directors in fixed income Americas this year, the person said.
Christiaan Brakman, a spokesman for UBS in New York, said he couldn’t comment on the personnel changes, as did Amin, Santa-Cruz and Lanzilotti. Attempts to reach Cannon through his UBS phone and e-mail address were unsuccessful and a home phone couldn’t immediately be found.
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