Mr Shear has over 30 years in the industry, he spent most of his career at Morgan Stanley, where he was most recently co-head of sales and trading, with responsibility across equities and fixed income. Prior to this, he was one of the original founding members of their global commodities business.
In addition, UBS has also appointed Roberto Hoornweg as global head of securities distribution. He will be based in London.
Mr Hoornweg joins UBS after 17 years at Morgan Stanley where he was most recently head of global interest rates, credit & currencies. Prior to this role, he was responsible for the firm’s fixed income and FX emerging markets sales & trading business.
Following these appointments, Carsten Kengeter will relinquish his additional role as joint global head of FICC. Rajeev Misra, global head of credit and Dimitri Psyllidis, global head of macro, will take on additional responsibility as joint global heads of FICC.
Jeff Mayer will take on the new role of executive chairman of FICC. Mr Shear, Mr Hoornweg, Mr Misra and Mr Dimitri will become members of the investment bank executive committee.
Carsten Kengeter, co-CEO of UBS Investment Bank, said: “Mr Shear will be responsible for driving a more aligned approach across equities and FICC, a cornerstone in our strategy for an integrated client-centric investment bank built around flow and advice. He is a real veteran of the securities industry having spent over 30 years developing world-class businesses.”
