UBS Investment Bank has lost one of its senior personnel with the departure of Louis McCauley, the group’s Senior Executive Director on the Foreign Exchange (FX) Options desk, Finance Magnates has learned.

Mr. McCauley has served as the Executive Director of FX Options Trading at UBS since the middle of 2014, having reported to John Newman, the Global Head of FX/PM Derivatives Trading at UBS. Finance Magnates has learned that Mr. McCauley has parted ways with the lender to relocate from Zurich to take up a new role as Portfolio Manager at a NYC Hedge Fund. In his new role he will be focusing on both commodities and FX, having garnered an extensive macro background in his prior roles.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

He originally joined UBS back in 1999, where he served as an FX Options Trader for nearly two years. More recently however, Mr. McCauley held several senior level roles at leading financial institutions, across the United States, UK, and Japan. This includes stints as the Director – Head of European Fixed Income Derivatives Trading at Susquehanna International Group, Executive Director – Global Head of Precious Metals Trading at Credit Agricole, and Director – Head of Precious Metals Options Trading at Citi.

Finance Magnates reached out to Mr. McCauley who confirmed the move.

UBS made headlines last month after agreeing to pay $19.5 million to the US’ Securities and Exchange Commission (SEC) following charges of false or misleading statements to US investors in structured notes, linked to a proprietary FX trading strategy. In particular, UBS agreed to settle the SEC’s charges that it misled investors in structured notes tied to the V10 Currency Index with Volatility Cap.