UBS hires new head of rates trading

UBS has appointed Chris Murphy as its new global head of interest rate derivatives trading.

Murphy, who started at the end of June, will be responsible for swap trading within UBS's fixed-income, credit and commodities (FICC) group. Most recently, he worked for Morgan Stanley as European head of rates trading until resigning from the firm last December.

UBS's FICC division was restructured in January into three broad business categories: macro, credit and workout. Murphy reports to Yvan Ducrot, the head of rates within the macro group.

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