UBS has hired four senior traders and a salesman for its government bond operations. The hires come as the firm looks to enhance its distribution and trading profile in government, agency and derivatives securities following a reorganization of the group earlier in the year, says Dave Shulman, global head of fixed-income distribution.
On the sales side, the firm hired Mike Kenny from HSBC Securities. Kenny was one of the top two producers on the government desk, according to former colleagues. He will report to Jon Bass, head of fixed-income sales. Shulman declined to comment on whether the position is new. He says he is probably a month away from naming producing sales managers in the firm's government and derivatives departments.
Traders joining the firm include MacDonald Budd from Citigroup, who will trade 10-year bonds, and Chris Lando, a former TIPS trader from Barclays Capital. UBSW has also drawn from the ranks of departing HSBC alums for its trading desk, adding John Roos, a director who will trade zero-coupon bonds, and David Parks, who joins as director and proprietary trader. They will all report to Marty Brennan, global head of government bonds, who says the hires are all new additions to the desk.