Ex-Deutsche Bank Hedge Fund ‘Tipster’ Heads To UBS

Jul 21 2010 | 10:53am ET

Fresh from his victory over the Securities and Exchange Commission in a major hedge-fund insider-trading case, derivatives salesman Jon-Paul Rorech has found a new job.

Rorech, who had worked at Deutsche Bank before being charged with passing confidential tips to a Millennium Partners hedge fund manager, will join UBS next month, Dow Jones Newswires reports. He’ll serve as a managing director in the firm’s head fund credit sales department.

Rorech and former Millennium manager Renato Negrin were cleared last month by a federal judge, who ruled that the “inside tip” Rorech provided Negrin was actually public information. It was the SEC’s first insider-trading case involving credit default swaps.

The SEC is reportedly considering an appeal of that verdict.

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