UBS Warburg is planning to hire a head of corporate derivatives in the U.S., according to industry insiders. One official familiar with the firm's plans said UBS had originally decided not to replace Scott Giese, the former head who left in the summer, but is now going back on that decision. The official was unable to specify why UBS has reversed its decision. Another market official said senior management had already decided to hire a head of corporate derivatives but it will need to be approved by the board.
The new recruit will report to Michael Ice, managing director and head of North American structured marketing and sales within the interest-rate/foreign exchange group, in Stamford, Conn. Ice declined comment.
