Alastair Ryan, co-head of European banks research, has left UBS

Alastair Ryan, UBS's co-head of European bank research for more than a decade has left the bank

UBS declined to comment on the issue, but colleagues said Ryan is no longer with the bank. We understand that he has left without a job to go to.

Ryan's departure is the latest in a series of senior research culls at UBS. Last April, the bank parted company with Omar Fall, another senior European banking analyst. Fall has yet to reappear elsewhere.

"It seems they're clearing out all the most expensive staff on the biggest base salaries," suggested one headhunter. "Someone like Alastair should find a new job easily," he added hopefully, " - he's well known and well ranked."

As we noted last week, banks appear to be dispensing more generally with senior staff and making do with juniors and vice presidents.

"The most highly-ranked and well-regarded analysts will find a new role," says Oliver Rolfe at search firm Spartan Partnership. "But there are quite a few people on the market," he adds.