UBS has started hiring traders again
In a sign that its ‘grey-haired’ recruitment spree is extending into trading functions, UBS has re-hired Robert Hagon, an ex-trader at the Swiss bank.
Hagon last worked for UBS in 2001, when he left to become head of emerging markets sales trading in London at Renaissance Capital in London. In 2012 he left RenCap to become a managing director and co-head of equity sales trading at Sberbank, a role he held until earlier this year when he quit as part of Sberbank's restructuring of its investment bank in London.
Now Hagon's back where he started. He has a senior trading role on UBS’s emerging markets equities desk, having joined earlier this month.
Much of UBS’s recruitment in recent months has focused on its advisory business, with the likes of Ian Carnegie Brown, head of consumer and retail investment banking, and Severine Briznay, head of M&A, signing up to the Swiss bank. This appeared to be paying off at the end of last year, with revenues up by 20% year on year in 2014.
More recently, however, UBS has been hiring for its markets division. As well as Hagon, UBS has hired Louis McCauley, the former head of precious metals trading at Citigroup, as an FX options trader while Sahan De Silva joined as a currency options trader from ANZ.
UBS declined to comment.