UBS has hired Makram Fares, director in equity derivative sales to hedge funds at Lehman Brothers in London, for a similar role. At Lehman, Fares was responsible for sales to francophone countries and he will broaden his coverage at UBS. Fares will report to Stephen Fulford, managing director in risk management products in London. Fulford could not be reached.
Fares and Mark Lane, a spokesman at Lehman Brothers, declined comment. Sam Smith, spokeswoman for UBS, declined comment.
