UBS Appointments, News

Neal Shear is now global head of securities at UBS Investment Bank, and will be based in Stamford.

Shear was most recently co-head of sales and trading at Morgan Stanley, equities and fixed income. He is an original founding member of the company's global commodities business.

In addition, UBS appointed Roberto Hoornweg as global head of securities distribution, and noted he will be based in London.

Hoornweg worked 17 years at Morgan Stanley where he was most recently head of global interest rates, credit and currencies.

Following these appointments, Carsten Kengeter will relinquish his additional role as joint global head of 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. Neal, Roberto, Rajeev and Dimitri will become members of the Investment Bank Executive Committee.


About the company:

UBS is headquartered in Zurich and Basel, Switzerland. The global firm provides financial services to private, corporate and institutional clients with focus on international wealth management and the Swiss banking business alongside its global expertise in investment banking and asset management.

UBS has offices in more than 50 countries, with about 36 percent of employees working in the Americas, 36 percent in Switzerland, 15 percent in the rest of Europe and the remainder in Asia Pacific.

UBS shares are listed on the SIX Swiss Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).

Insight At Operational Risk Breakfast, Boston

Kinetic Partners and Foley Hoag LLP co-host an operational risk breakfast on Wednesday, Jan. 27, 9 to 10:30 a.m. in Boston.

The Operational Risk Breakfast Club provides the "opportunity for senior investment management professionals to mix informally and gain advantages by gathering insights and information regarding key developments in the industry" and are held on a quarterly basis.

Topics include SEC's new custody rules, which become effective in March 2010, and the impact of these new rules on investment advisers; a discussion of what investment advisers can expect to see as focal points of SEC examinations in 2010; a brief discussion of what is involved for a U.S. investment adviser to open a U.K. office.

Chairman is Jonathan Saxton, Kinetic Partners US LLP. Speaker, Meredith Haviland, attorney, Foley Hoag LLP.

Kinetic Partners is a global professional services boutique providing a range of audit & assurance, advisory, consulting, forensic & corporate recovery services solely to the investment industry.

Meeting location is Foley Hoag LLP, Seaport West, 155 Seaport Blvd., Boston. Registration information at www.foleyhoag.com, under events.

Essex Savings Bank opens new Madison office

Essex Savings Bank (ESB) cut the ribbon to open a new financial service center at 99 Durham Road in Madison.

Gregory Shook, president and chief executive officer, said the new financial center will include an adviser from its Essex Financial Services subsidiary as well as a senior vice president from its trust department.

ESB offers a broad range of financial services, including banking, financial, estate, insurance and retirement planning. Branches are located in Essex, Old Lyme and Old Saybrook.

The grand opening and ribbon-cutting ceremonies were attended by town officials, chamber representatives and members of the local business community.

Essex Savings Bank is a state-chartered mutual, or depositor owned, savings bank serving the shoreline and Connecticut River Valley.