UBS Hires Credit Suisse's Loach for European High-Yield Trading in London

UBS AG, Switzerland’s largest bank, hired Phil Loach from Credit Suisse AG as head of high-yield credit trading in Europe.

Loach will join UBS’ London office in September and report to Derrick Herndon, European head of credit, according to UBS spokeswoman Hana Dunn in London.

Loach couldn’t be reached for comment. A spokeswoman for Credit Suisse in London declined to comment.

UBS also hired Paul Williams from Deutsche Bank AG to head non-investment grade credit sales in Europe, Dunn said. Williams is also due to start in the firm’s London office next month.

To contact the reporter on this story: Kate Haywood in London at khaywood@bloomberg.net

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