Ian Power has been named head of UBS’s Execution Hub, EMEA, having most recently served as the firm’s head of multi-asset trading, UK.
He takes over from Chris Blackburn who departed in February after nearly nine years with UBS.
In his tenure, Blackburn oversaw the development of the Hub, working towards opening up outsourced trading as an option for larger firms as well as overseeing the innovation of the offering. His next role – set to begin on 28 April 2025 – is as yet unconfirmed.
Read more: Head of UBS outsourced trading offering departs
Prior to joining UBS, London-based Power served as a global multi-asset and derivatives trader at Newton IM, and before that as head of trading at Standard Life Investments.
He has also worked in derivatives-related positions at various firms, including: Ignis Asset Management, Axial Investment Management, and RBS.
UBS Execution Hub services hedge funds and asset managers of various sizes, originally built to handle execution for UBS Global Wealth Management.
Speaking to The TRADE back in 2023, then head of Americas for the UBS Execution Hub, Jonathan Slavin, explained that the unit had prioritised bolstering its buy-side DNA within the team.
“If you are going to rely on a partner firm for some part of your buy-side execution process, you need full confidence that the people performing that process have the knowledge and the experience to do so. We’ve predominantly hired extremely experienced hedge fund and institutional traders who have seen all the different parts of the cycle.
“This gives us the vantage point of buy-side execution staff who have experience managing both portfolio managers and getting the best out of a broker network.”
UBS had not responded to a request for comment at the time of publishing.