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UBS Warburg is moving into the credit card sector, on both the principal- and asset-finance aspects of the business. The firm is actively exploring portfolio acquisition as well as planning to hire a banker to handle its credit card-origination operations. The initial securitization of acquired collateral is scheduled for 1Q03, while the bank intends to hire a banker to cover the credit card origination business by the end of the first quarter. The new hire would report to managing director Shahid Quraishi.

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