The move is part of a consolidation of the units that service hedge funds.In June, UBS combined two key investment bank divisions that service hedge funds, prime services and global synthetic equity. The new unit, global financing services, now has most of its leadership filled out.
Paul Galietto, who led UBS’ North American equities sales, has been promoted to global product head for prime brokerage, according to an internal memo sent to employees Friday by Jason Barron. Barron became global head of financing service—including prime brokerage—in June following the departure of Mitch Moore the same month. Galietto joined UBS in 2010 from Merrill Lynch where he spent twenty years developing