UBS Credit-Trading Chief To Launch Hedge Fund

Aug 21 2012 | 1:15pm ET

A top UBS banker is leaving the bank after just a year to launch a hedge fund.

Eric Rosen will start a credit hedge fund, Bloomberg News reports. His exit from UBS comes as the bank begins to reduce its fixed-income trading.

Rosen, who will leave UBS next month, is co-head of fixed-income, currencies and commodities. His co-head, Matthew Zola, will take sole control of the division following Rosen's exit.

Rosen joined UBS after more than a decade at JPMorgan Chase, where he worked from 1997 through 2010 and rose to head of North American credit trading.

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