KeyBanc Capital Markets has hired Steve Rielly from UBS to oversee loan trading, ASR sister publication Leveraged Finance News has confirmed.

The newest hire is part of the bank's efforts to build its credit sales and trading unit.

Rielly was hired by Warburg Dillon Read where he served as global head of loan trading.

Warburg Dillon was created by the Swiss Bank Corp. or SBC, which eventually merged with UBS in 1998. Warburg Dillon became part of the UBS umbrella as a result of the merger.

Before UBS, Rielly was senior vice president and head of par loan trading at Lehman Brothers.

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