UBS Warburg hires ex-Goldman prime brokerage head

Swiss investment bank UBS Warburg has hired Alex Ehrlich, the influential ex-head of Goldman Sachs' prime brokerage business, as its head of international hedge fund services.

Ehrlich assumes responsibility for all UBS's stock lending, prime brokerage and equity swap activities, servicing the firm's European and Asia-Pacific hedge fund franchise. Ehrlich, who will join UBS Warburg at the beginning of May, will report to Mitch Moore, global head of equity finance, and will be based in London.

Ehrlich worked at Goldman Sachs for the past 22 years, and was one of the managing directors jointly managing its global securities services business unit. Based in London since 1999, he was solely responsible for all securities lending and financing, prime brokerage and offshore administration businesses in Europe and Asia.

"He is one of the key senior managers responsible for building [Goldman's] leading global prime brokerage business, and we are very much looking forward to him bringing his significant experience to our organisation," said a spokesman for UBS.