UBS has made three European sales and trading hires to its leveraged finance team, bucking the trend among investment banks that have been reducing staff in the sector over the past year, as the market begins to show some signs of life.

According to a statement from the Swiss bank, Frank Palamara has joined as a director, while Aneta McGuinness has joined as an executive director in leveraged finance sales. Vince Gomez has also joined as an executive director and senior high-yield bond trader.