Bear Stearns has hired Thomas Feda, executive director and marketer in UBS Warburg's cross rates group in Stanford, Conn., as a managing director and derivatives marketer for institutional clients in New York. Peter Croncota, senior managing director, to whom Feda reports, said the hire was made in response to growth in the firm's business and is a newly created seat. Feda declined comment.
At UBS, Feda reported to David Shulman, global head of fixed income distribution in Stanford, Conn. Shulman said Feda will likely be replaced.
