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U.S. Fixed Income Leader Quits UBS

Published January 30, 2009 12:27 PM EST Updated February 3, 2009 12:44 PM EST 1 Min Read

Jon Bass, head of the U.S. fixed income group at UBS, has resigned. A source familiar with the firm confirmed reports of the credit chiefs resignation.

Bass left a week after several other fixed income leaders departed the Swiss bank, including Chris Ryan, the head of credit and Bass supervisor. UBS declined to comment on the reports.

UBS said yesterday that it would slash bonuses for its executives by 80% and would pay bonuses with deferred shares instead of cash.

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