Exec Eyed in Libor Scandal Leaves UBS

Jay V. Merchant, who has come under federal scrutiny in the LIBOR manipulation scandal, has left his position as head of swaps trading at UBS on Monday, a spokeswoman there confirmed.

Merchant is being looked at by U.S. authorities over his activities while working at Barclays Plc's swaps desk in New York.

Merchant's lawyer, John Kenney, was not immediately available for comment.