The banker who has spearheaded UBS’s push into corporate equity derivatives has switched to a new post, with the Swiss bank promoting its co-heads of cash equities in Europe to fill his role.

Salvatore 'Chicco' di Stasi, head of ECM for Europe, the Middle East and Africa at UBS, where he has also led the global strategic equity solutions group since joining from Goldman Sachs to build that business in January 2010, is switching to another role, according to a memo sent to staff on October 7.