UBS has snapped up two former Deutsche Bankers to run equities desks for the bank in London, according to Financial News.
Ricardo Honegger, the new Head of UBS Global Synthetic Equity, previously headed global markets and global banking for the Middle East North Africa region. He was also the chief country officer for the UAE.
Marcus Overhaus, the second new hire, is the UBS’s new head of global equities structuring and co-head of securities structuring.
When he was at Deutsche, he headed up the quantitative products group in the global markets equity unit.
He also has a PhD in Mathematics and Theoretical Physics from University Bochum, Germany.
The desks will be “turbo-charged” in the sense that UBS is making a massive push to expand its equities business. Carsten Kengeter, investment banking chief at the Swiss bank said about the unit:
“We need to reinstall the turbocharger. We have the right team in place, the culture of the business is undergoing a strong renaissance, and with the engine now running again we should be able… to pull ahead.”
Good luck men.