Switzerland's largest bank, UBS AG (UBSN) recently appointed Chris Hagstrom as head of prime brokerage for the U.S.  Hagstrom is expected to direct and oversee the bank's hedge funds services in the area.

In an e-mailed statement provided today by Megan Stinson, bank spokeswoman, Hagstrom worked in UBS prime brokerage for nine years.  Prior to this, he was connected with SG Cowen Securites Corp.  

Last June, UBS appointed Reinhardt Olsen as global head of prime brokerage.  He took over from Paul Galietto who was in turn assigned to lead equities for the Americas.  This movement was implemented as Peter Forlenza the previous equities manager left to join Jefferies Group LLC. 

UBS is a global company based in Basel and Zurich, Switzerland. It provides investment banking, asset management as well as wealth management services for private, corporate and institutional clients worldwide.  The bank was formerly known as the Union Bank of Switzerland until its merger with Swiss Bank Corporation in 1998.  It also serves retail clients in Switzerland.