UBS has shuffled its fixed income sales desk, elevating Guy Cornelius to head of European distribution. He was previously co-head of European sales with Peter Ghavami, who market officials have connected with a new role as global head of commodities, encompassing sales, trading and research. Ghavami referred calls to the press office where spokesman Charles Gorman did not comment by press time.
Cornelius confirmed his new role, adding he continues to report to David Shulman, global head of fixed income distribution, who could not be reached for comment. Ghavami transferred to London from the U.S. last year where he was co-head of the municipal derivatives group (DW, 3/7).
