UBS has named bankers in Europe, the US and Asia-Pacific to run its new global capital markets group, formed last week to combine its primary and derivative businesses of its equity capital markets and debt capital markets operations, Financial News reports.
David Soanes is responsible for running global capital markets in Europe, the Middle East and Africa with a specific focus on the primary business, while sources at UBS in London said Tom Fox will run the business in North America and Steven Barg will have oversight in Asia-Pacific.
According to UBS, Soanes will continue as co-head of the financial institutions coverage group in FICC, jointly with Jamie Robinson. Fox is co-head of equity capital markets while Barg is head of equity capital markets in Asia-Pacific.
UBS first revealed it was combining its primary markets businesses in January, a move that it said was designed to develop its strengths in equities and investment banking while at the same time reposition its fixed-income, currencies and commodities division.
Roberto Isolani and Matthew Koder were appointed then as co-heads of the new global capital markets group, with reporting lines into UBS’s global heads of investment banking, equities and FICC businesses. Koder is relocating from Hong Kong to London to take up the position.