UBS Investment Bank appointed Neal Shear as global head of securities. He will be based in Stamford.
Shear has over 30 years in the industry, spending most of his career at Morgan Stanley where he was most recently co-head of sales and trading, with responsibility across equities and fixed income. Before this, he was one of the original founding members of their global commodities business.
Additionally, UBS also appointed of Roberto Hoornweg, who joins as global head of securities distribution. He will be based in London.
Hoornweg joins UBS after 17 years at Morgan Stanley where he was most recently head of global interest rates, credit & currencies. Before this role, he was focused on the firm's fixed income and foreign exchange emerging markets sales and trading business.
Following these appointments, Kengeter will leave his additional role as joint global head of fixed income, currencies and commodities (FICC). Rajeev Misra, global head of credit, and Dimitri Psyllidis, global head of macro, will take on additional responsibility as joint global heads of FICC. Jeff Mayer will take on the new role of executive chairman of FICC. Shear, Hoornweg, Misra and Psyllidis will become members of the Investment Bank Executive Committee.
"Neal will be responsible for driving a more aligned approach across Equities and FICC, a cornerstone in our strategy for an integrated client-centric investment bank built around flow and advice," said Carsten Kengeter, co-CEO of UBS Investment Bank. "He is a real veteran of the securities industry having spent over 30 years developing world-class businesses. "
"Increasingly, clients are directing their business to firms who can service their multi-asset needs most effectively," Alex Wilmot-Sitwell, co-CEO UBS Investment Bank said. "We believe that by bringing our Equities and FICC distribution teams more closely together under the leadership of Roberto, we can better leverage our world-class product delivery capabilities for our clients."