UBS hires trading veteran for US execution hub

UBS hires trading veteran for US execution hub
The unit helps asset managers and hedge funds outsource trading desks.
SEP 26, 2023
By  Bloomberg

UBS Group hired longtime trading executive Brian Williamson as it seeks to expand its U.S. execution hub, set up to help asset managers and hedge funds cut costs tied to running a trading desk.

Williamson, who most recently was head of sales of the trading firm Luminex, joined UBS as an executive director, according to a memo to staff seen by Bloomberg. A 30-year trading veteran, he also previously worked at Liquidnet, the memo said. 

“Brian will be dedicated to outsourced sales solutions and focused on accelerating our distribution efforts,” Jonathan Slavin, managing director for UBS’s execution hub in the Americas, said in the memo. A spokeswoman for UBS confirmed its contents. 

Money managers have increasingly turned to outsourced trading desks as the global shift to passive investing has put pressure on their margins. 

UBS, for its part, has been building out its outsourced trading desk for years. The division can replace an investor’s trading desk entirely by handling all its orders or simply act as a backup when clients’ staff are out of pocket.

Latest News

Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?
Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?

Participants who receive professional 401(k) advice see higher returns on average, net, than those who don't.

Wealth Enhancement, Alphacore ink new RIA partnerships
Wealth Enhancement, Alphacore ink new RIA partnerships

Wealth Enhancement is tapping into new markets nationwide as AlphaCore accelerates plans to form one of California's largest RIAs.

Fund fees continue long-term slide as investors favor lower-cost options
Fund fees continue long-term slide as investors favor lower-cost options

Industry report details decades-long trends in expense ratios, 2024 fee movements, and how shifts in advisor compensation have played a role.

LPL Financial’s new CEO Steinmeier gets pay bump but lags Wall Street rivals
LPL Financial’s new CEO Steinmeier gets pay bump but lags Wall Street rivals

But one industry executive believes his pay could catch up over time.

Senate Majority Leader pushes full repeal of estate tax
Senate Majority Leader pushes full repeal of estate tax

The Republican leader's call to end the death tax, part of a long and growing wish list of cuts and reductions, would offer relief to a small but important sliver of America's wealthiest taxpayers.

SPONSORED Retirement plan balances are flourishing. Why are so many advisors missing out on a $3 trillion opportunity?

Participants who receive professional 401(k) advice see higher returns on average, net, than those who don't.

SPONSORED Focus on clients, not compliance – why Gary Corderman found his fit with Farther

This wealth management platform finally delivers on the technology promises other firms couldn't - giving advisors a better way to scale and serve