UBS just launched a huge shake-up

UBS has just announced a big shake-up in its investment bank.

Here are the headlines:

• Chris Murphy, who had been cohead of FX, rates and currencies (FRC), is leaving. He will stay on at the firm until September.
• George Athanasopoulos
  will become sole head of FRC.
• Roger Naylor, cohead of equities, is leaving.
• Robert Karofsky, will become sole head.
• Matt Hanning, who had been head of corporate client solutions (CCS) in Asia Pacific, is leaving.
• William Vereker and Ros Stephenson will be global coheads of CCS.
• Sam Kendall will become head of CCS in Asia Pacific.

More to follow