• Merran previously traded credit index options at Deutsche Bank
  • He reports to Philip Olesen, global head of credit flow

UBS Group AG hired Melvyn Merran to trade credit derivatives that are processed through clearinghouses, according to a person familiar with the matter.

Merran will trade indexes of credit-default swaps, credit options and exchange-traded funds, said the person, who asked not to be identified because they’re not authorized to speak publicly. Merran reports to Philip Olesen, global head of credit flow, the person said.

Hana Dunn, a spokeswoman at UBS in London, confirmed Merran’s appointment without elaborating on his role.

Merran, who is based in London, spent about three years at the Swiss firm before departing for Deutsche Bank AG in 2012 where he traded credit-index options. He was among traders let go by the German lender last year as it pared back its fixed-income business.

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