UBS Warburg has hired Matthew Reader, an interest rate trader at Lehman Brothers in London, as a director and structured credit trader. The hire comes on the heels of the appointment of Kristian Sharp, head of credit trading for North America at Commerzbank Securities in New York, as an executive director and senior credit derivatives trader in London (DW, 5/5). Sal Naro, managing director and co-head of global credit derivatives in Stamford, Conn., said the hires are only some of the additions made by the firm over the last few months with the Swiss giant having added around 19 staffers since February. The credit derivatives market is continuing to grow in both depth and diversity and the hires allow the firm to meet increased demand for support, service and infrastructure from clients, he noted.
Both Reader and Sharp report to Grant Lovett and Richard Whittle, co-heads of global credit derivatives for Europe in London. Further hires will be made to UBS' global credit derivatives business, said Naro declining to give further detail. Reader declined comment. At Lehman Brothers, Reader reported to Andrew Morton, managing director, who did not return calls.
