UBS plans to integrate its Asia-Pacific cash and derivatives fixed income desks in Tokyo and has hired one of the most prominent fixed income professionals in Japan to co-head the effort. Michael Halloran, managing director and co-head of fixed income trading at Nikko Citigroup in Tokyo, resigned on Friday to become Asia-Pacific co-head of fixed income at UBS with Lee Knight. Knight was previously a managing director in fixed income responsible for the derivatives side of the business. Halloran and Knight could not be reached by press time.
Rivals said Halloran is a well-respected heavy hitter in Japan. One noted that prior to his managerial role Halloran was a top trader.
Halloran is said to be a partial replacement for Antoine Estier, managing director in fixed income, who transferred to London earlier this year to run emerging markets trading.
Daniel Cox, spokesman at Nikko Citi, and Kakuko Suzuki, spokeswoman at UBS, did not return calls by press time.