(Bloomberg) -- Eric Rosen, the co-head of UBS AG's fixed-income, currencies and commodities business for the Americas, is leaving the bank next month, about a year after he joined, to start a hedge fund.

Matthew Zola, who is now co-head with Rosen, will become sole head of the unit after the departure in September, according to a person familiar with the matter who asked not to be identified because it hasn't been announced. Rosen, 42, who worked at JPMorgan Chase & Co. from 1997 to 2010, didn't return messages to his office or mobile phones. The Zurich-based firm has said it will reduce the fixed-income trading business, which will be less profitable under stricter capital rules.

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