People News: Morgan Stanley, Citadel Securities, UBS

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Nicola White, global head of electronic fixed-income trading at Morgan Stanley, is leaving the firm to join Citadel Securities LLC.

Bloomberg News reports that Citadel has been building a new market-making unit in fixed-income and credit products under Paul Hamill, who was hired by the firm in 2014 from UBS.

Citadel was one of the most outspoken defenders of the Dodd-Frank Act and the reforms it made to the $630tril over-the-counter derivatives market, including the mandate that most swaps trades be backed by a clearinghouse and traded electronically. That has allowed the firm to position itself to compete with JPMorgan and other banks that generate tens of billions of dollars in annual revenue by making markets in derivatives and securities.

In the meantime, Bloomberg also reports that UBS Chief Information Officer Oliver Bussmann, a driving force behind the bank’s effort to develop the bitcoin technology for the industry, has resigned.

Bussmann’s departure was one of several personnel changes announced by new Chief Operating Officer Axel Lehmann in an internal memo seen by Bloomberg Wednesday. 

Nicola White to Leave Morgan Stanley for Citadel Securities

UBS's Blockchain Guru Bussmann Leaves Amid COO Reshuffle

 

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