UBS is planning to make significant changes within its execution services business, specifically the electronic trading area, as a result of increased operational complexity stemming from the previously reported merger, The TRADE has learnt.
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The electronic trading responsibility is set to be split into two distinct parts, with Chris Marsh continuing to be responsible for the electronic trading product and Mark Goodman assuming the role of head of electronic trading.
Goodman is currently head of UBS execution hub and platforms and this will be an additional responsibility – continuing to report to Brent Johnson, global head of execution services, The TRADE understands.
Elsewhere, UBS has made several other role changes, The TRADE can reveal, including Srichakri Adhikarapatti, currently head of principal quant trading for FX and US cash equities taking responsibility of the Central Risk Book (CRB) – a critical part of the execution services business.
Adhikarapatti – reporting to Johnson and Ciara Quinlan, head of principal e-trading, will also join the Execution Services Management Forum (ESMF).
Zain Nizami, global head of cash equity trading, will also join ESMF as well as having oversight of CRB risk. He will also report directly to Johnson and Quinlan, The TRADE understands.
The ESMF has also appointed Stuart McGuire who will be the execution services senior relationships manager, assuming responsibility for the client agenda within execution services and working directly on monetising the investments being made as a result of the merger.
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He will also report to Johnson, as well as Neil Hosie, co-head of global markets distribution, who is also joining the EMSF.
The final change is that of Simon Hards, set to continue in his role as cross asset execution for Credit Suisse Wealth, which is now part of the execution hub organisation, as well as joining the ESMF. As part of the shift, Hards will report to Goodman.
Amid the appointments comes the departure of James O Callaghan, managing director, who has made the decision to leave UBS after 15 years with the business.