UBS Names Chief Dealer In N.Y. Brown To Head Spot, Strategic

BANKS

In an effort to fine-tune and diversify its New York foreign exchange trading operation, Union Bank of Switzerland has hired Owen Brown from Bankers Trust Co. as chief dealer of spot and strategic trading. Brown joined the bank last week, succeeding David Godwin, who left the bank last year.

The bank's decision to tap Brown for the post suggests that UBS is relooking the potentially lucrative area of strategic trading. The bank all but put an end to strategic trading last fall after a

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