UBS Warburg has hired Fred Engel and Ji-Mei Ma as directors for its Stamford-based global credit collateralized debt obligation group. Both join from J.P. Morgan Securities. At UBS they will be senior structurers, reporting to Jeff Herlyn and Michael Rosenberg, co-heads of global credit CDOs, who both recently departed J.P. Morgan as well (BW, 3/10). Engel starts this week; Ma started last week. Herlyn and Rosenberg were travelling last week and were not available for comments. Kris Kagel, a spokesman at UBS, say the hires are part of an expansion of the desk, which now includes five originators and two traders.
Engel and Ma were v.p.s at J.P. Morgan, reporting to Andrew Palmer and Maleyne Syracuse, co-heads of structured credit. Michael Dorfsman, a spokesman at J.P. Morgan, declined to comment on their possible replacement.