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FOREIGN EXCHANGE

UBS hires institutional FX salesman

UBS has hired a former Morgan Stanley FX salesman in the US, according to sources familiar with the situation.

Matthew Miller joined the Swiss bank’s institutional FX sales team in New York on Monday, the people say. Miller was an executive director in FX institutional sales at Morgan Stanley in New York, having joined the US bank in 1999.

At UBS, Miller reports to Douglas Millowitz, managing director FX institutional sales.

UBS ranked fourth in this year’s Euromoney FX Survey. In North America, the bank has a market share of 9.39%.