UBS has hiredEric Rothman, v.p. in credit derivatives at insurer ACE Guaranty Corp., in a similar role. His exact role at the Swiss firm and whether he is filling a newly created position could not be determined by press time. Rothman could not be reached and Kris Kagel, spokesman at UBS in New York, declined comment.
Rothman's departure follows a wholesale restructuring of the firm earlier this year in which the insurer laid off around one-third of its staff as it exited several businesses in anticipation of an initial public offering (DW, 2/29). ACE also overhauled its senior management structure, appointing Michael Schozer, former managing director and head of structured finance and credit derivatives at Ambac Financial Group in New York, as president (DW, 12/15). Barbara Van Hassel, spokeswoman for Ace in New York, did not return calls regarding Rothman's replacement.
