UBS on Thursday filled a key vacancy in the senior ranks of its troubled investment banking unit with the hiring of Carsten Kengeter from Goldman Sachs to be global head of fixed income, currencies and commodities.

Mr Kengeter, a fixed income banker currently based in Hong Kong, is the latest outsider drafted in by the Swiss bank to help revamp its investment banking division, which was largely responsible for the disastrous losses the bank has suffered on complex debt instruments linked to the US mortgage market.