UBS targets yen flows with forex hiring spree

UBS has made a series of senior hires and internal promotions on its foreign exchange desk in Tokyo as it seeks to capitalise on Japan’s resilient currency flows.

“UBS is re-establishing itself as a global leader in foreign exchange,” according to an internal email sent last week by Lutfey Siddiqi, Asia-Pacific head of corporate coverage and FX distribution within fixed income, currencies and commodities Ficc, and Joe Etheridge, who was recently appointed head of Japan foreign exchange sales in addition to his role as deputy head of Ficc. “As one of the world’s largest and most vibrant foreign exchange markets, Japan is attracting significant investments by the firm.”