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UBS’s Global Head of Cash Equities Allison Leaves Bank

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Phil Allison, UBS AG’s global head of cash equities, stepped down from Switzerland’s biggest bank, according to a memo from equities head Michael Stewart.

Allison, who was also head of equities for the Europe, Middle East and Africa region, was replaced on an interim basis by Jason Barron and Dominic Vail. Barron, global head of financing services, will take over EMEA equities and Vail, global head of equities distribution, will assume Allison’s responsibilities for global cash equities, Stewart said in the memo to staff today. A UBS spokeswoman confirmed the memo’s contents.