GERMANY – Joerg Sihler, head of fixed income at Deutsche Asset Management in Frankfurt, and his team have moved to UBS Global Asset Management.

UBS said in a statement that it had hired Sihler and four other members of his team: Vadym Sliusar, Uta Fehm, Alexander Nagel and Wolfgang Kuhn. Sihler takes over management of UBS’s Frankfurt fixed income team from Detlev Kleis, who becomes team deputy.

Also transferring is DeAM marketing manager Miriam Howard.

“This substantial strengthening of our resources in Germany underlines the significance of this market for our global business,” said Tim Blackwell, head of UBS Global Asset Management in Germany.

The moves follow the departure of DeAM managing director Klaus Mössle to Fidelity in April.