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UBS Credit Strategist Bory Leaves as Investment Banking Shrinks

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UBS Credit Strategist Bory Leaves as Investment Banking Shrinks
The UBS AG headquarters in Zurich. Photographer: Gianluca Colla/Bloomberg

July 23 (Bloomberg) -- George Bory left his post as global head of credit strategy at UBS AG this month as the lender reduces its investment bank by half.

Megan Stinson, a New York-based spokeswoman for Switzerland’s largest bank, confirmed Bory’s departure. The strategist, who worked out of the Stamford, Connecticut, office, left almost two weeks ago, according to a person familiar with the move who asked not to be identified because the change hasn’t been announced.

Stinson declined to comment beyond the departure. UBS is shrinking its investment bank by almost half, according to a Nov. 17 investor presentation, as stricter capital requirements and Europe’s debt crisis put pressure on profit.

Bory didn’t respond to a phone message and e-mails seeking comment. UBS is based in Zurich.

To contact the reporter on this story: Mary Childs in New York at mchilds5@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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