FIVE YEARS AGO IN FXW

FIVE YEARS AGO IN FXW

UBS Hires Silver from Bankers Trust

In a significant shift of strategy, Union Bank of Switzerland has hired Richard Silver, formerly co-manager of currency options at Bankers Trust, to run a global FX derivatives book out of New York.

Previously, UBS has not been a major interbank market maker in currency options in the US, but conducted such business on a regional basis.

FXW, June 21, 1993

Editor's note: Today, Silver is based in Singapore and is slated to oversee global risk management and pr