UBS has combined its prime brokerage and global synthetic equities division to be known as Financing Services and has named Jason Barron as global head of that division.
A spokesperson for UBS said it made sense to combine the two divisions – given the synergies between them and the fact that they are able to leverage off one another – with a person of Barrons experience in markets, funding and infrastructure. Barron was most recently head of global equity derivatives at UBS.
Mitch Moore is departing the company as head of prime brokerage for personal reasons. UBS named Moore head of prime services in March 2011 after Stuart Hendels departure and has been instrumental in the development of UBS prime brokerage business. He has also been involved in UBSs ETD execution and clearing business.
An internal memo, signed by Mike Stewart, UBSs global head of equities and head of investment banking securities for the Americas said: The combined financing services group “allows us to leverage natural synergies across these businesses.
(JDC)