UBS move to Zurich sparks first departures
FRONT PAGE NEWS
In trading, Paul Cavanagh, exotics, Glenn Smith, options and Paul Adamson from the spot desk, have all left the Swiss bank's London office, according to market sources.
Cavanagh is understood to be joining Morgan Stanley in London in a similar role in the autumn, although the bank did not confirm this by press time. Smith is said to be starting his own London-based hedge fund, while Adamson is tipped to resurface at Bank of America in London.
The bank has also made changes to its FX asset manager
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