News Briefs

UBS Hires Bear Stears Fixed Income Co-Head

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<!– /* Font Definitions */ @font-face {font-family:Verdana; panose-1:2 11 6 4 3 5 4 4 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:536871559 0 0 0 415 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:””; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-fareast-font-family:”Times New Roman”;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} –> UBS hired Jeffrey Mayer, the former co-head of fixed income at Bear Stearns, as its new joint global head of fixed income for its investment bank

Press Release:

UBS today announced the appointment of Jeffrey Mayer as Joint Global Head of the Fixed Income, Currencies and Commodities (FICC) business within its Investment Bank. With the recently announced Joint Global Head of FICC Carsten Kengeter, he will have responsibility for all fixed income products including credit fixed income, rates, structured products, emerging markets, foreign exchange, commodities, securitized products, client coverage and research.

Mayer, 49, will be based in New York and Stamford and report to Jerker Johansson, Chairman and Chief Executive Officer of UBS Investment Bank. Mayer will also join the Investment Bank Executive Committee and the UBS Group Managing Board.
“Jeff’s experience leading a global fixed income operation, deep product knowledge and proven ability to manage risk will be a great asset to the business,” said Johansson. “Given UBS’s wide geographic footprint and the range of products within FICC, we are pleased to have both Jeff and Carsten on board leading the business.”
A 19-year veteran of Bear Stearns, Mayer was most recently Global Co-Head of Fixed Income and a member of Bear Stearns Management Committee. Mayer was additionally a member of the Board of Directors of Bear Stearns and Co., Inc. Prior to becoming Co-Head of Fixed Income in 2002, he headed Bear Stearns’ mortgage and asset-backed securities department. He began his career at Bear Stearns as a senior mortgage trader.
UBS is one of the world’s leading financial firms, serving a discerning international client base. UBS is a leading global wealth manager, a leading global investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.
UBS is present in all major financial centers worldwide. It has offices in over 50 countries, with about 37% of its employees working in the Americas, 34% in Switzerland, 16% in the rest of Europe and 13% in Asia Pacific. UBS employs more than 80,000 people around the world. Its shares are listed on the Swiss Stock Exchange (SWX), the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).
SOURCE: UBS