UBS Bank Plans to Double Size of Its Commodities Staff


UBS AG, Switzerland's largest bank, plans to double its commodities
team, a year after selling most of its raw-materials units to Barclays
Plc.

The expansion of the existing team of about 40 people will take place
over the next 18 to 24 months, Hana Dunn, a London- based spokeswoman
for the bank, said by phone today. Dylan Morgan, formerly of Goldman
Sachs Group Inc., started last week as head of industrial metals and
Taha Quertani, from Tudor Investment Corp., became head of
agriculture, Dunn said.

The Zurich-based bank announced plans to withdraw from most
commodities business in October 2008 and agreed to sell its industrial
metals, oil and U.S. power and gas units to Barclays Plc three months
later. UBS sought to cut investment banking risk after posting $48.6
billion in writedowns and losses related to the credit crisis.

UBS AG, Switzerland's largest bank, plans to double its commodities
team, a year after selling most of its raw-materials units to Barclays
Plc.

The expansion of the existing team of about 40 people will take place
over the next 18 to 24 months, Hana Dunn, a London- based spokeswoman
for the bank, said by phone today. Dylan Morgan, formerly of Goldman
Sachs Group Inc., started last week as head of industrial metals and
Taha Quertani, from Tudor Investment Corp., became head of
agriculture, Dunn said.

The Zurich-based bank announced plans to withdraw from most
commodities business in October 2008 and agreed to sell its industrial
metals, oil and U.S. power and gas units to Barclays Plc three months
later. UBS sought to cut investment banking risk after posting $48.6
billion in writedowns and losses related to the credit crisis.