Profile: UBS on the past and future of fixed income

Swiss bank's fixed-income trading floor is home to two distinct businesses

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Chris Murphy, UBS: “We needed to do something radically different”

It doesn't matter how senior you are – there are some doors at UBS that you cannot pass through. Chris Purves, the bank's global head of macro flow trading, demonstrates by pressing his card against the reader. A red oval lights up. "There you go," he says. "I'm not allowed in."

The door is on the foreign exchange, rates and credit (FRC) trading floor at UBS's 100 Liverpool Street office in London and is set into a glass partitioning wall. On the other side is what Purves refers to as "the

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