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UBS In Two Big Sales Hires

UBS has bolstered its foreign exchange business with two market veterans who are set to join the Swiss bank in London next month.

George Athanasopoulos is joining UBS as global head of FX distribution, effective 5 July, according to an internal announcement seen by Squawkbox. He will report to Roberto Hoornweg, the recently appointed global head of securities distribution.

In addition, Richard Longmore is joining on 12 July as European head of FX financial institutions distribution, reporting to Athanasopoulos. Both men previously worked at Barclays Capital.?

Athanasopoulos was last at Eurobank EFG in Athens where he held the role of general manager. Before that he spent five years at Barclays Capital in London, most recently as global head of FX and emerging markets sales across FX, rates and credit. He has also worked at Merrill Lynch and Natwest Markets in FX sales and trading roles in London, Singapore, Tokyo and Hong Kong.??

Longmore was most recently European Head of FX sales for financial institutions at Barclays Capital. He has also worked at Merrill Lynch, JP Morgan and Bank of New York within FX sales and trading.

The announcement ends weeks of speculation about Longmore’s destination. In April, market whispers suggested he was moving to Lloyds TSB Corporate Markets.

The appointments follow changes made by UBS to the senior management line up of its investment bank at the beginning of the year. These included the hires of Hoornweg and Neal Shear, global head of securities, from Morgan Stanley. The two men were brought in to drive a more aligned approach across UBS’s fixed income, currencies and commodities (FICC) and equities operations to better leverage its product delivery capabilities for clients (Squawkbox, 1 February 2010).

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