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UBS Adds Deutsche Bank Structurer/Trader

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UBS has hired a structurer/trader for its covered bond operation, says Sarah Small, a spokeswoman. Ralf Hennings recently joined the firm from Deutsche Bank, where he held a similar position. He will be based in Zurich and reports to Michael Schimdt, head of electronic trading for fixed income. Last month, UBS reestablished its covered bond trading desk after having been out of the market for about two years (BW, 11/24).

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