UBS Axes Commodity Derivatives And Builds New Treasury Group
BANKS
ZURICH--Warburg Dillon Read, the investment banking arm of UBS AG, has withdrawn from the commodity derivatives market. As part of the move, the bank has restructured its trading teams to form a new treasury products group.
This new division will encompass FX, precious metals, exchange-traded derivatives, short-term interest rate repos and alternative asset management, confirms a UBS spokesperson.
The treasury products group will be headed by Bill Johnson, who was named head of global FX, precious
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