Michael Halloran will leave Nikko Citigroup for UBS to assume the position of co-head credit trading, Asia-Pacific. Halloran will join the Swiss bank's Tokyo operations on June 14 and will work closely with Lee Knight, co-head credit trading, Asia-Pacific.

With the appointment of Halloran, UBS will consolidate its Asian, Australian and Japanese credit trading operations into a single Asia-Pacific unit. Under the one-stop Asia-Pacific credit structure, UBS will also manage its cash and derivatives trading activities.

At Nikko Citigroup, Halloran was a managing director and head of credit trading in Japan. He brings over 13 years of fixed income and credit trading experience to UBS that has taken him to London, New York and Tokyo. Halloran first joined Salomon Brothers in 1991.

Halloran will report to Sal Naro, managing director and global head of credit derivatives and Steve Bell, global head of credit trading. Regionally, he'll also answer to Sharon Mitchell, regional head of fixed income, interest rates and currencies, Asia-Pacific.

The hire will be part of an ongoing strategy to beef up UBS' credit trading capabilities in the region. According to Naro, "we will continue to invest in our business- our people and technology- as we have over the past three years to deliver our clients in Asia Pacific the region's best fixed income and rates services."