UBS Names Stuart Hendel as Global Head of Prime Brokerage and Mitch Moore as Global Head of Exchange-Traded Derivatives

UBS Investment Bank announced today that it has appointed Stuart Hendel as Global Head of Prime Brokerage. UBS also announced that it has named Mitch Moore as Global Head of Exchange-Traded Derivatives (ETD). Both Hendel and Moore will report to Daniel Coleman, Global Head of Equities.

Hendel, 50, previously held the position of Global Head of Prime Brokerage at Morgan Stanley in New York. From 2004 through 2007, he served as Chief Operating Officer of Eton Park Capital Management. Prior to joining Eton Park, Hendel was US Head of Prime Brokerage at Morgan Stanley.

“We consider prime brokerage a critical offering within our leading global Equities business and a business we are strongly committed to,” said Coleman. “Since the onset of the financial crisis and dislocation in the markets, the hedge fund landscape and the needs of those clients have changed significantly. Stu’s long and respected track record running a global prime brokerage business and developing innovative solutions for this important client segment will serve to strengthen and grow our franchise.”

Moore, 46, joined UBS in 1992 and rejoins the firm following his departure last year. He previously ran the ETD business for UBS and its predecessor firm, Union Bank of Switzerland. Most recently, until March 2008, he held the position of Global Chief Operating Officer for Equities and Fixed Income, Currencies & Commodities (FICC) at UBS. Moore has also held other senior positions at the firm, including Global Head of Prime Brokerage and Global Head of Convertible Sales.

"Over the coming years, the derivatives clearing business is likely to be the area of the securities industry that will see the most change, which will present an enormous potential for growth in new products," said Coleman. "With more than a decade of experience in clearing businesses, Mitch has the background, seniority and caliber to grow this business into new areas and take advantage of these exciting opportunities."

Both appointments are effective September 1, 2009. Hendel will be based in New York and Moore will be based in London.

Hendel earned his BA from Wesleyan University and his JD from Cornell University Law School. Moore holds a BSc in business administration from the University of Bath.

About UBS

Headquartered in Zurich and Basel, Switzerland, UBS is one of the world's leading financial firms. It serves a discerning, international client base with its wealth management, investment banking and asset management businesses. In Switzerland, UBS is the market leader in retail and commercial banking.

UBS is present in all major financial centers worldwide. It has offices in over 50 countries, with about 38% of its employees working in the Americas, 34% in Switzerland, 15% in the rest of Europe and 13% in Asia Pacific. UBS employs more than 75,000 people around the world. Its shares are listed on the SIX Swiss Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).