A key digitizer in the Swiss giant's investment bank is leaving for an electronic debt trading platform.
MarketAxess is hiring Raj Paranandi as operating chief for Europe, the Middle East, and Africa as well as for Asia-Pacific, effective March 1, it said in a statement. He is currently the head of Change and co-head for digital transformation at UBS, where he is a managing director.
Paranandi is the second high-profile UBS banker to defect to MarketAxess after Erik Tham, the U.S. company's head of private banking for Switzerland and Benelux. The 44-year-old Paranandi will oversee technology and product development, client and account services, data operations, regulatory operations and controls, settlements, and middle-office functions.
International Growth
The British banker will play a lead role in long-term goals for MarketAxess' international business as well as lead new strategic change management initiatives. He will report to Christophe Roupie, who is head of EMEA and APAC, while coordinating closely with MarketAxess' overall operating chief, Chris Concannon.
Prior to the his current job, Paranandi was UBS' operating chief for foreign exchange, rates, and credit products. He previously worked at Barclays, Credit Suisse, and Accenture.
