Breaking news: UBS outlines FICC structure
UBS Investment Bank has finalized the organizational changes to its fixed income, currencies and commodities (FICC) business which started in October. André Esteves remains as global head of FICC, a role he assumed after the bank merged fixed income business with its money markets, currencies and commodities (MCC) unit.
As a result of the changes, Andy Amschwand, who had been the global head of MCC before the creation of the FICC business, will become an advisor reporting to Esteves. Amschwand remains chief executive of the Investment Bank in Switzerland.
Fabian Shey, formerly global head of distribution and Reto Stadelmann, formerly global head of trading for MCC are now co-heads of the foreign exchange (FX) & money markets unit, reporting directly to Esteves.
UBS has emerged as an FX powerhouse over the past decade, climbing up and then consolidating its position in the Euromoney FX poll. For the past five years, it has consistently been ranked as one of the two biggest participants in the market.