UBS Warburg has hired Ashish Ponda, credit derivatives structurer at Zurich Capital Markets in Singapore, in a similar role for its nascent credit desk in the Lion City. Prior to his stint at Zurich, Ponda headed up the credit derivatives desk for ABN AMRO in Singapore (DW, 6/7). At ABN, he worked alongside Anders Haagen, credit derivatives trader at UBS, who joined last year from ABN to establish its credit derivatives trading operation in Singapore (DW 9/29). "It's like FriendsReunited," said a market official, referring to the popular U.K. Web site which reunites school friends.
Ponda now reports to Alison Holland, managing director of the global structured products and strategic solutions group in Singapore. Ponda and Holland were traveling and could not be reached, according to Gwen-Lyn Toh, spokeswoman, who confirmed the hiring. Haagen declined comment.
At ZCM, Ponda reported to Mukesh Chohan, managing director in Singapore. Chohan said the firm is looking for a replacement, but declined further comment.
