UBS and rival independent brokers Execution and Evolution are continuing their aggressive hiring of fixed-income staff, as banks either rebuild their depleted sales and trading teams or build capabilities from scratch to capitalise on bumper revenues.

UBS, which last month unveiled over 20 hires in its fixed-income, currencies and commodities division in the US and Europe, has hired a further six senior credit sales staff in London and Paris, three of which are dedicated to selling credit to hedge funds.