Chris Blackburn, who left the US bank earlier in 2016, has been recruited as business manager for the Swiss bank’s Europe, Middle East and Africa cash equities unit, according to a person familiar with the matter.
He reports to Karolina Mikołajów, global operating officer for the cash equities business, according to the person. Mikołajów had also been covering the role for Emea but that responsibility has been handed to Blackburn.
Blackburn declined to comment.
Blackburn worked at Morgan Stanley between October 2014 and February 2016, according to the UK’s Financial Services Register. He left the Wall Street firm, where he was an executive director in equities trading during a period in which a raft of individuals departed from the bank’s equities business.
Outside his banking career, Blackburn’s LinkedIn profile lists him as a member of the board of trustees at Citizens Advice Westminster and the co-founder of Sporting Nation, a now-dissolved sports-related IT company of which he was chief executive between 2012 and 2014.
UBS’s equities business, which sits in the bank’s investor client services unit, posted a 20% year-on-year fall in revenues during the first quarter of 2016, at Sfr920 million. When those results were announced in May, group finance chief Kirt Gardner pointed to “weak client activity and challenging trading conditions”.
The Swiss bank’s cash equities business has been overseen globally by Gary Head since May 2014, while the Emea business is run by Brent Johnson.