UBS Warburg has hired Reinhardt Olsen, head of the institutional services group for international clients at Merrill Lynch, as an executive director and client relationship director for its fixed income, rates and currency group in New York, a newly created position that includes derivatives. Terrence Keeley, managing director for North American client relations at UBS, said Olsen, who reports into him, is experienced and well known in the fixed income universe, having worked in a variety of senior roles. Olsen, who declined comment, was previously head of high grade corporate banking at Merrill and has also worked as head of the U.S. debt market and integrated bank business at the firm. At UBS Olsen will focus on depositary institutions, said Kris Kagel, spokesman in New York.
Guy McKenna, spokesman at Merrill Lynch in New York, explained that Olsen's departure followed a reorganization, whereby the international private client group was merged with the firm's U.S. private client group and as a result Olsen will not be replaced. Kelly Martin, president of the international private client group, to whom Olsen reported, resigned late last year.
