UBS loses one of its London stars
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Union Bank of Switzerland (UBS), the Swiss bank, yesterday lost one of its star managers in London when Richard Briance, global head of fixed income securities, quit after five years at the bank.
Staff were informed of his departure in a memorandum from Hans-Peter Bauer, the global head of fixed income and derivatives.
Sources said Mr Briance, 43, who joined UBS from Credit Suisse First Boston in 1991, had left after management differences. They said his management style was very different from that of Mr Bauer, who arrived from Switzerland at the start of 1996 when UBS restructured to refocus the running of its global operations out of London instead of Zurich.
Mr Briance's role in the restructuring was to head fixed income globally and most importantly to increase the bank's presence in the US, where it had it struggled to make a impact.
Sources said he had been successful in his role, hiring some high-profile staff in the US in the last year. The sources did not believe Mr Briance had another job lined up immediately but thought his reputation in the markets would make him an attractive hire for one of UBS's competitors.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments