Frank Byrne was let go last week as UBS' head of structured-products underwriting and origination, 18 months after he was hired to spearhead growth in those areas, according to sources familiar with the situation.

A UBS spokesperson confirmed Byrne’s departure but declined to comment further. She said Ken Cohen, who joined UBS in May to head up the bank’s real estate and CMBS businesses, has replaced Byrne as global had of ABS and MBS underwriting and origination.

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