UBS AG of Zurich said it has hired more than 20 senior bankers from competitors including Merrill Lynch & Co. and Goldman Sachs Group Inc. to strengthen its fixed-income unit.

The hires include Dimitri Psyllidis, formerly of Merrill, which is now part of Bank of America Corp. He joined UBS to head foreign exchange and rates trading globally, according to a memo sent to staff members Monday. Bobby Gerjarusak joined in Hong Kong from Goldman Sachs to run fixed-income, currency and commodities structuring in the Asia-Pacific region.

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