Brad Mazur, the head of structuring in the U.S. for UBS AG, and an analyst, Howard Weinberg, have left the firm.
Chris MacKenzie, who previously reported to Mazur as head of credit and insurance structuring for the Americas, has taken over his responsibilities, said Megan Stinson, a New York-based spokeswoman for Switzerland’s biggest bank. Shiv Prakash will assume Weinberg’s duties as a high-yield debt analyst, Stinson said.
UBS Chief Executive Officer Sergio Ermotti, who decided in 2012 to exit most debt trading, is speeding that plan to reach the bank’s main profitability target. First-quarter net income rose 6.7 percent from a year earlier to 1.05 billion Swiss francs ($1.2 billion), the firm said on May 6, beating analysts’ estimates, as it focuses more on wealth management.
Mazur worked at Zurich-based UBS from October 2009 through this month, most recently as a managing director and head of fixed-income, currencies and commodities structuring in the Americas, according to Financial Industry Regulatory Authority records and his LinkedIn profile.
He joined UBS after a year at $5.2 billion hedge fund ZAIS Group LLC and Bear Stearns Cos. prior to that, FINRA records show. He graduated from Emory University in 1999, according to his LinkedIn profile.
Mazur and Weinberg didn’t respond to requests for comment sent through LinkedIn Corp.’s website. Stinson declined to comment further.
Weinberg worked at UBS from February 2006 through this month, FINRA records show, after leaving a unit of General Electric Co. He attended the University of Connecticut, according to his LinkedIn profile.