UBS has appointed Ian J Power as head of multi-asset trading – UK for its Execution Hub, along with numerous other hires into its London and Frankfurt-based outsourced trading teams, The TRADE can reveal.
Power joins from Newton Investment Management, where he was responsible for trading both cash and derivatives instruments across all asset classes, with a bias towards fixed income. He was formerly head of trading in London for Standard Life Investments and before that ran trading at Ignis Asset Management.
Power also holds the title head of UK execution, and will report to Chris Blackburn, head of EMEA for the Execution Hub. His appointment is part of a wider build-out of the UBS’ London and Frankfurt-based outsourced trading teams as the bank looks to ramp up its EMEA coverage.
According to an internal memo seen by The TRADE, additional London hires include Paul Christophorou, who previously spent 19 years as a senior global trader for Odey Asset Management, responsible for trading equities, ETFs, equity and bond futures and commodities. He is joined by Gozde Yildiz, a multi-asset trader focusing on fixed income, equities and derivatives trading. Prior to joining UBS, Yildiz was at a boutique firm trading government bonds, SSA, credit and equities.
In Frankfurt, Dirk Heim joins as head of EU execution. Heim was previously with Quoniam Asset Management managing the execution of global equity portfolio baskets alongside derivatives and FX, and has held senior positions at Merrill Lynch’s Strategic Investment Group, Marble Bar Asset Management and BTG’s GEMM Funds. He also reports to Blackburn.
Dennis Reinheimer also joins the Frankfurt team, after working for UBS for over eight years as a multi-asset trader for financial intermediaries. All roles have now started, with a third member of the EU trading team expected imminently.
UBS’ outsourced trading business is currently believed to count over 300 bank, broker-dealer and wealth management clients across EMEA.
The bank started the expansion of its offering last year in the US with the hire of Jon Slavin as head of UBS Execution Hub Americas in June 2021. Slavin is formerly of Morgan Stanley and reports into Mark Goodman, who is global head of UBS Execution Hub, based in London.