Swiss bank UBS has chosen Gerard Satur, from Australia, to run its U.S. equities trading business, the firm told employees in a recent internal memorandum.
Satur, who assumes his new position immediately, was the head of equities for UBS’s Australia/New Zealand region. He reports to Raul Esquivel, head of Americas Equities. Satur is expected to work in Stamford, where equities trading is based.
Sources at UBS could not confirm when he would start in his new role in the U.S. Satur could not be reached at his office in Australia in time to comment for the story.
According to the memo, the firm’s U.S. equities division expects to leverage Satur’s “risk management expertise and business acumen” in his new role. Satur replaces Ryan Primmer, who moved to the firm’s fixed income, currencies and commodities unit to lead the real estate workout group.
Before becoming the head of the Australia/New Zealand region in 2005, Satur had been head of equities for Australia since 2003. He started at UBS in derivatives in 1996 and “has since gained knowledge of products across equities,” the memo reported.
Looking overseas to fill prominent U.S. positions is nothing new for UBS; its global head of research came to the U.S. from Australia, as well.
