UBS and Nomura Securities International have each hired a mortgage-backed securities trader from Credit Suisse First Boston.
John Lee joins UBS as a director and reports to Brian Cohane, managing director and head of MBS trading. Cohane said the hire is for a new role and is part of the firm's efforts to grow its business.
Also leaving CSFB is Brett Marvin, who moves to Nomura as a managing director and head of the adjustable-rate mortgage trading desk, according to Susan Altran, spokeswoman. She said Marvin's mandate is to expand the firm's ARMs trading, origination and structuring operations, and that he reports to Don MacKinnon, head of structured credit trading and asset finance at Nomura.
John Gallagher, spokesman for CSFB, confirmed the departures but declined further comment.