Two senior interest rate traders have left UBS, according to sources familiar with the matter, prompting the Swiss bank to reshuffle its trading teams in Europe and the US.
Jonas Klink, whose team made significant trading gains in SSAs and covered bonds last year, is set to join hedge fund Brevan Howard, the sources said. Separately, Jess Eagel is set to join JP Morgan.
Klink joined UBS from Citigroup in 2023 to spearhead a push in covered bonds and SSA trading and most recently headed euro and sterling linear rates trading at the bank, according to his LinkedIn profile. UBS more than doubled its revenues in SSAs and covered bonds to over US$80m in 2025, IFR reported last month, making it one of the biggest banks in this space by revenue.
Eagel had previously headed US flow rates trading and US inflation trading at UBS, according to her LinkedIn profile.
Adam Krawiec has been appointed head of SSA and covered bond trading at UBS following Klink's departure, while Kilian Frensch has been appointed head of euro and sterling flow rates trading, according to sources. Malcolm Fildier has been appointed head of US inflation trading at the bank following Eagel's exit, sources said.
Spokespeople for Brevan Howard, JP Morgan and UBS declined to comment. Klink declined to comment. Eagel has been approached for comment. eFinancialCareers reported Klink's and Eagel's departures on Wednesday.