UBS names four new securities co-heads in a division reshuffle

UBS restructured its profitable securities division yesterday, unveiling four co-heads that will cover equity and fixed income, currencies and commodity sales and trading.

The Swiss bank told staff in a memo that co-heads Rajeev Misra, Yassine Bouhara, Francois Gouws and Roberto Hoornweg will report to its investment bank head Carsten Kengeter.

But Dmitrios Psyllidis, its global co-head of fixed income, is to leave the bank to return to his family in his native Greece. A UBS spokesman said Psyllidis “had done a brilliant job” and was leaving for personal reasons.

The reshuffle has however not named a position for head of securities Neal Shear. The rejig follows a major securities division recruitment drive by UBS over the past year.