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Ex-UBS FX chief joins RBS

Royal Bank of Scotland has hired Fabian Shey – the former global co-head of FX and money markets at UBS – as global head of futures, prime services and electronic markets in the bank’s fixed-income, currencies and commodities business.

Shey, who left UBS in April after a 20-year career at the Swiss bank, will be responsible for overseeing all the products and services included in the prime services suite, such as futures, prime brokerage and OTC derivatives clearing. Shey will also lead the electronic markets strategy for the FICC group. Shey, based in Stamford, Connecticut, will report to Michael Lyublinsky and Peter Rading, global co-heads of FICC, and Brian Reid, global head of FICC sales, research and strategy.

The former stalwart of UBS’s foreign exchange business held a variety of senior trading, product and distribution roles during his tenure at the bank and its predecessor firms.

Shey led the global exotic FX option trading area for Swiss Banking Corporation and then UBS after the merger in 1997, before becoming global head of FX services in early 2000, where he was responsible for a number of areas, including prime brokerage. Shey was also responsible for launching UBS’s FX e-commerce strategy.

Shey was subsequently appointed global co-head of FX and money markets in 2007, before becoming global head of FICC distribution two years later, where he was responsible for global sales across credit, rates, emerging markets, FX and structured solutions.