Discover your dream Career
For Recruiters

The global head of credit sales has left UBS

UBS is understood to have parted company with Robert Balch, its global head of credit sales. Balch left the bank earlier this month according to insiders.

Neither UBS nor Balch responded to a query about Balch's exit. However, he has been removed from UBS's internal phone directory.

Balch's disappearance comes after UBS's fixed income business suffered a 12% revenue decline in the first quarter compared to the previous year. The Swiss bank said that, "market conditions for rates and credit flow products were challenging." The bank is understood to have been cutting costs.

Balch spend over a decade at UBS after joining from ABN AMRO in July 2007. He started his finance career in 2001 as a tax accountant at Arthur Anderson.

Balch's exit comes after UBS made several hires for its macro sales business last year, with several new joiners from Goldman Sachs. 

Costs accounted for 74% of revenues in UBS's investment bank in the first quarter of 2018, down from 77% in the first quarter of 2017.

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Latest Jobs
QBE Insurance
AVP, Claims Relationship Management
QBE Insurance
New York, United States
QBE Insurance
AVP, Product Development Lead
QBE Insurance
New York, United States
QBE Insurance
AVP, Claims Relationship Management
QBE Insurance
New York, United States
QBE Insurance
Senior Claims Adjuster - Crop
QBE Insurance
Springfield, United States
X-Giants International Hong Kong Limited
Product Manager (Digital Product/Promising Dot-com Company)
X-Giants International Hong Kong Limited
Los Angeles, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.