Kilian Frensch has got a new job. After leaving Nomura, where he was head of European interest rate swap trading in early October, it’s understood that he’s joining UBS. At the same time, Nomura has leaked a few more people.
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UBS declined to comment on Frensch’s arrival. It comes after the Swiss bank also hired Jérôme Etienne from Bank of America as head of EMEA rates vol trading, suggesting that UBS is staffing up for 2026. As we have observed before, Frensch is a popular person who worked for Deutsche Bank until 2023 and was well liked there.
Frensch’s disappearance from Nomura seems to have spurred some more exits. It’s understood that both William Johnson, a European rates trader, and Gian Ameri, a rising star in the rates business, have both left. Ameri is thought to have reported to Frensch.
Nomura also declined to comment. Earlier this month, the bank made a round of cuts, particularly in Singapore. Sources at the bank say Pun Kosolvjak , a quant strat, has also left of his own accord.
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