UBS Snags Goldman Managing Director to Lead US Credit Trading

UBS Group AG has tapped Andrew Goldman from Goldman Sachs Group Inc.to lead US credit trading as market volatility picks up, according to people with knowledge of the matter.

Goldman was previously a managing director in Goldman Sachs’s high-yield trading group, and earlier worked at Morgan Stanley, according to a financial industry record.

Goldman declined to comment. Representatives for Goldman Sachs and UBS also declined to comment.

While credit has been broadly battered by the sell-off in risky assets and heightened recession fears, banks are increasingly looking to staff up teams devoted to trading the debt as volatility ...