UBS hires oil, gas bankers from Fortis -WSJ

UBS AG (UBSN.VX) has recruited eight oil-and-gas bankers from Dutch-based lender Fortis Bank after a series of departures from the Swiss bank, The Wall Street Journal reported on Monday.
UBS will add eight senior bankers from Fortis in Dallas, giving UBS its first investment banking office there, the Journal reported.
Darrell Holley, Fortis's former global head of oil and gas banking, will report to Steve Trauber, global head of UBS's energy group, the Journal said. They will start at UBS later this year, the paper reported.
The Fortis group specializes in loans to speculative-grade firms, especially reserve-based lending in which energy reserves are used as collateral on loans.
A UBS spokesman was not immediately available for comment. A Fortis official could not be reached. (Reporting by Robert MacMillan; Editing by Gary Hill)
http://www.reuters.com/article/managementIssues/idUSN0539602820091005