UBS names heads of global capital markets group

LONDON, May 14 (Reuters) - UBS AG named Roberto Isolani and Matthew Koder to run its new global capital markets (GCM) group, formed three weeks ago to combine its equity capital markets and debt capital markets business.

UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) in January unveiled its plan to combine the primary and derivative business into a single capital markets division, as part of a shake up of its investment banking business after suffering heavy subprime-related losses.

"We are confident that by bringing together our market-leading teams, we will be better positioned to leverage our strengths in these areas and provide our clients with best-in-class service and execution across the primary capital markets," GCM co-head Roberto Isolani said on Wednesday.

"We view the combination of our capital businesses as offering significant upside for UBS and our clients," added GCM co-head Matthew Koder, who is relocating from Hong Kong to London to take up the position.

Equity capital markets generated revenue of 108 million Swiss francs in the first quarter, 80 percent lower than a year earlier, while debt capital markets revenue dropped 60 percent to 171 million francs.

UBS also announced regional heads of the new GCM unit.

David Soanes is running GCM businesses in Europe, the Middle East and Africa while continuing as co-head of the financial institutions coverage group in fixed income, currencies and commodities, jointly with Jamie Robinson.

Tom Fox will head GCM operations in North America and Steven Barg will be responsible for the new unit in Asia.

UBS posted a first-quarter loss of 11.5 billion Swiss francs ($10.9 billion) and is cutting 2,600 jobs in investment banking units as it scales back the businesses which made it one of the biggest casualties of the subprime crisis. (Reporting by Daisy Ku; Editing by David Holmes)