UBS has hired Hugo Faria, managing director and head of Latin American derivatives marketing at Deutsche Bank, in a senior emerging market derivatives role. Faria, who could not be reached, is regarded as an industry veteran having previously held senior roles at Lehman Brothers, ING Barings, and Citigroup Global Markets. Kris Kagel, spokesman in New York, confirmed Faria is joining the firm, but declined further comment.
The hire comes hot on the heels of UBS losing Joonkee Hong, former global head of emerging market derivatives, who jumped to Merrill Lynch last month as head of debt markets for Korea (DW, 3/28). It could not be determined whether Faria's hire is related to this departure. Michele Agostinho, spokeswoman at Deutsche Bank in New York, declined comment on whether Faria will be replaced.
