October 6, 2011 / 5:21 PM / 8 years ago

UBS loses Europe credit trading head Herndon

LONDON, Oct 6 (Reuters) - Swiss bank UBS’s head of European credit trading Derrick Herndon has left the bank, a source familiar with the matter said.

Herndon joined from Swiss rival Credit Suisse in 2009. UBS declined to comment.

The bank, which was hit by a $2.3 billion rogue scandal last month, had previously announced plans to cut 3,500 jobs, with close to half of those falling in the investment bank. (Reporting by Sarah White; Editing by Sinead Cruise and Elaine Hardcastle)

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