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.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
