UBS's head of EMEA equities to leave -internal memo

LONDON, March 24 Mon Mar 24, 2014 12:42pm EDT

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LONDON, March 24 (Reuters) - UBS's head of equities for the Europe, Middle East and Africa region, is leaving the Swiss bank after almost 18 years, according to an internal memo seen by Reuters on Monday.

Phil Allison, who joined UBS as a graduate in 1997, will be replaced by Jason Barron with immediate effect, the memo sent by Mike Stewart, UBS's global head of equities, said. Barron is currently global head of financing services at UBS.

Allison is expected to remain in the industry, a source familiar with the matter said.

Dominic Vail, global head of equity distribution, will take over Allison's responsibilities as head of global cash equities, it added.

Both are interim appointments. Permanent successors will be announced in due course, the memo said.

UBS declined to comment. (Reporting by Clare Hutchison; Editing by Greg Mahlich)

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