Bloomberg News reports that Hershberger is joining UBS as a vice chairman in financial institutions, focusing on asset management, according to the memo, which was obtained by Bloomberg and confirmed by a UBS representative. He starts work at UBS in the second quarter and will be based in New York, the memo shows.
In the meantime, Bloomberg also reports that Seaport Global Holdings, the brokerage, hired former Credit Suisse executive Scott Lynch as head of institutional equity-trading operations.
Lynch, 51, who had overseen cash trading in the Americas at Credit Suisse, is a managing director in the firm’s New York office, Seaport said Tuesday in a statement. He also is co-head of institutional equity sales with Tim Arthurs, 34, who’s based in Chicago and was formerly an institutional sales representative.