UBS Hires GSIC's Foreign Exchange Manager To Run Singapore Proprietary Trading Desk

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Union Bank of Switzerland has scored a major coup in Singapore, hiring arguably the best known currency trader in the region -- the FX manager for the Government of Singapore Investment Corporation (GSIC), says Richard Low, Asian regional head and FX manager at UBS. Lo Tak Meng joins the bank in mid-May as chief proprietary trader in charge of re-building UBS's proprietary team, officials say.

The GSIC is the governmental arm that manages the country's foreign currency reserves. It has increa