UBS appoints new fixed-income head

Andre Esteves has been appointed global head of fixed income at UBS following the departure of predecessor Simon Bunce.

Esteves was formerly chairman and chief executive of the bank's Latin American business, UBS Pactual. He joined UBS in December 2006 when the Swiss bank purchased Banco Pactual, an independent investment bank in Brazil. Esteves had worked at Banco Pactual since its establishment in 1989, and became a partner in 1993. In 1996, he became a member of the Banco Pactual executive