Richard Bevan, formerly European head of exchange-traded derivatives (ETD) etrading at UBS in London, has been promoted to global head of electronic trading for exchange-traded derivatives.
Bevan will remain in London and report to Ed Pla, UBS’ global head of execution and clearing.
Bevan joined UBS Investment Bank in 1997 as head of equities algorithmic trading product strategy and was in charge of both desk and client electronic trading with responsibility for the bank’s strategy for foreign exchange algorithms.
Bevan replaces Steve Chivers, the former head of ETD etrading who left the bank in October 2014 to join Jefferies as managing director and global head of electronic trading solutions in Chicago. Bevan joined UBS from international technology firm, Atos.
Chivers was the Swiss bank’s global head from 2006 when ABN Amro Futures was acquired by UBS Securities.
Bevan’s promotion is the latest senior management change at the Swiss bank and follows the recent promotion of global head of equities structuring at UBS in London, Shane Edwards, to head of global equity derivatives, replacing Roger Naylor who was appointed co-head of global equities within the bank’s investment banking division in September, alongside Robert Karofsky.
Edwards join UBS’s global equities management committee and report directly to Naylor and Karofsky. Naylor replaced Mike Stewart who is moving to the bank’s wealth management division.
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