UBS lost the head of risk technology at its investment bank
It's not just senior Credit Suisse technologists who are leaving UBS, some of the bank's own legacy tech staff are going too.
Kirk Wylie, a managing director and the head of risk technology for UBS's investment bank has left. UBS declined to comment, but Wylie is understood to be on gardening leave.
It's thought that Wylie left of his own volition. Steve Pegg, the former head of front office risk technology at Credit Suisse, also left in the summer to go to quantitative hedge fund, Qube.
Wylie joined UBS in 2021 from NatWest and previously worked for State Street. A graduate of the University of California, Berkeley, he spent the early part of his career working in Silicon Valley.
Speaking to us last year, Wylie said there are advantages of working in technology in financial services rather than for tech firms. While technology firms are first movers and "flail a lot" looking for the right solution, Wylie said banks get to sit it out and "go straight in on what the industry as learned."
He added that in his role at UBS he was responsible for software that ran trillions of calculations each night.
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