UBS Global Asset Mana-gement recruited Liz Ward to shore up its fixed-income team. Ward will be based in London and will manage the global team of fixed-income capabilities managers. In this capacity, Ward forms the key link between UBS investment teams and the firm's client relationship managers. "Ensuring that the fixed-income capabilities managers are working well together on a global basis to deliver a consistently high-quality client experience will be a key element of Liz's role," said Ward's boss, Rob Gambi, deputy global head of fixed income, who himself joined UBS in 2006. "Liz brings a wealth of experience to the team, including 10 years in senior fixed-income roles with Russell Investment Group," Gambi added. As of the end of March 2007, specialist fixed-income mandates, worth SwF170 billion (around $142 billion) for both institutional and wholesale clients, accounted for 20% of UBS invested assets.

Societe Generale Corporate & Investment Banking hired Peter Melichar as vice president of CDO, origination and structuring. Melichar, who is based in London, will report to Tony Venutolo. His responsibilities include structuring and origination of cash products across asset classes and structure types. He previously spent six years at Citigroup, starting in 2001 as an analyst in the interest-rate swaps/options desk. He moved in 2004 to Citigroup's European CDO desk as a structurer, primarily focusing on cash flow CDOs of leveraged loans and ABS.

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