UBS will not replace timezone risk manager Mullet

UBS Warburg, the investment banking arm of Swiss bank UBS, said it will not replace Mark Mullet, a timezone risk manager for North America FX options.

Instead, his colleagues in both London and Stamford, Connecticut, will take on additional responsibilities, particularly his former manager, Stamford-based global head of options, John Meyer.

Mullet left UBS at the end of June to join Bank of America in London as a senior options trader.