Star Traders Quit UBS Credit Arbitrage Team

A trio of investment-grade corporate traders that are considered the crown jewel within UBS' principal finance unit have left the firm and one observer said they could resurface in the hedge fund world.

  • 02 Apr 2004
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A trio of investment-grade corporate traders that are considered the crown jewel within UBS' principal finance unit have left the firm and one observer said they could resurface in the hedge fund world. Peter Abramenko, managing director, and Jim Switzer and Sasan Doroudian, two traders who reported to him, left the group at the end of last month. Their departure, and eventual destination, is a hot topic among Wall Street sell-siders who said the team was one of the top-five accounts in high-grade corporates. Abramenko is said to have been particularly successful and likely earned in the neighborhood of $20 million last year, estimated one salesman. Abramenko declined to comment. Doroudian did not return a call and Switzer could not be reached.

It is uncertain why the three traders left or if they have anything lined up. One headhunter said the team will likely move to an existing hedge fund or set up their own shop after taking a break. "[Abramenko] will be much sought after given his impressive track record and it is only a matter of time before another firm hires him up," said another salesman.

Abramenko, who joined UBS in 2000 after its acquisition of PaineWebber, has roughly two decades of experience in investment-grade trading. He also worked at Kidder Peabody. At UBS, he reported to Ken Karl, global head of principal finance. Karl did not return a call. Kris Kagel, a UBS spokesman, confirmed the departures but declined to provide more information.

  • 02 Apr 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%