UBS has promoted executive director Kevin Latimer to head of par loan sales. Latimer will report to Brendan Dillon, managing director and head of loan sales, who oversees various capital market processes.
Latimer, who joined UBS from Deutsche Bank two years ago, was looking for more responsibility while the desk is anticipating some changes. UBS now syndicates mezzanine and bridge loans off the sales desk and several months ago, distressed loans were brought exclusively under the control of the bank loan team. Previously, these also fell within the distressed bond side.
The bread and butter for UBS is still primary new issue, but there are pockets that need to be filled out, said a banker. "With those pockets, you need a dedicated sales manager on the desk," he added. Dillon declined comment.