Signaling plans to more tightly integrate its investment banking business, UBS AG named a Swiss executive to the top job at its Warburg Dillon Read unit. The move followed a decision to rename the operation as, simply, UBS Warburg.

Analysts said the decision to name 47-year-old Markus Granziol as chairman and 42-year-old John Costas as chief operating officer - following the resignation of Franklin "Fritz" Hobbs 4th as chairman - reflects that UBS has by and large completed the integration of Warburg with the old line U.S. investment bank of Dillon Read, acquired two years ago.

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