Scott Molin has joined UBS AG as a managing director, mostly focused on hedge funds.
Molin, who has spent more than 20 years on the sell-side, was most recently at Goldman, where he was managing director and co-head of the firm’s cross-asset sales group to hedge funds. Prior to joining Goldman in 2000, he spent more than 10 years at Donaldson, Lufkin & Jenrette in equity research sales. -HedgeWorld Daily News
UBS AG announced a number of changes to its group executive board.
Andrea Orcel, currently executive chairman of Bank of America Merrill Lynch, will join UBS and jointly, with Carsten Kengeter, lead the investment bank as co-CEO, effective July 1, 2012. He will become a member of the group executive board.
Kengeter and Orcel will be jointly responsible for implementing the strategy of building a client-focused, less capital-intensive and more globally competitive investment bank.
Alex Wilmot-Sitwell, currently co-CEO of Asia Pacific, will become chairman of UBS Investment Bank, effective 1 April 2012.
In this new role as the most senior client sponsor for the investment bank, Wilmot-Sitwell will specifically focus on ensuring the seamless delivery of investment banking business to key clients around the world. He will continue to be based in Hong Kong and will step down from the group executive board.
Chi-Won Yoon will become sole CEO of the Asia Pacific region, effective April 1, 2012. He will continue to support the business divisions in managing growth, increasing collaboration, and ensuring profitability in the region. -Business Wire
UBS AG has reportedly named Mahmoud Abdulhadi CEO in Saudi Arabia. He will assume the post from Mohamed Sammakia.
Abdulhadi will report to Middle East and North Africa group CEO Tony Iliya.
UBS AG appointed Peter Stein as head group governmental affairs, Asia-Pacific.
From 2005, Stein was Hong Kong chief for The Wall Street Journal and associate editor of its Asian edition. -South China Morning Post
UBS AG added Peter Forlenza to head its equities business in North America and South America.
Forlenza was formerly global head of equities at MF Global Holdings.
UBS AG announced that it has appointed Sergio Ermotti as permanent chief executive officer.
Ermotti, a 51-year-old from Switzerland’s Italian-speaking Ticino region, was appointed interim CEO in September.
UBS AG also announced that Philip J. Lofts, CEO UBS Group Americas, will resumes his former role as UBS’s group chief risk officer (CRO). He replaces Maureen Miskovic.
Lofts was group CRO between November 2008 and December 2010, becoming CEO UBS Group Americas in January 2011. He joined UBS in 1984.
Robert J. McCann, who joined UBS in 2009, will assume the role of CEO UBS Group Americas in addition to his current role as CEO wealth management Americas.
Ulrich Korner, who joined UBS in 2009, will take over the role of CEO UBS Group Europe, Middle East and Africa in addition to his current role as group chief operating officer and CEO corporate center.
All these changes are effective immediately.
Lofts, McCann and Korner will continue to be members of the group executive board. -Business Wire
UBS AG announced that Sergio Ermotti, its acting chief executive, will become its permanent CEO.
Ermotti was appointed interim CEO of UBS Group on 24 September 2011. Previously, he was appointed chairman and CEO of UBS Group Europe, Middle East and Africa and became a member of the GEB in April 2011. From 2007 to 2010, he was UniCredit Group’s deputy chief executive officer and was responsible for the strategic business areas, corporate and investment banking and private banking. He joined UniCredit in December 2005 as head of markets & investment banking division. Between 2001 and 2003 he served as co-head of global equity markets and as a member of the executive management committee for global markets & investment banking at Merrill Lynch. He started his career with Merrill Lynch in 1987, holding various positions in equity derivatives and capital markets. -Company Website
UBS AG has named Hermann Prelle as chairman for mergers and acquisitions in Europe, the Middle East and Africa (EMEA), effective immediately.
In his new position, Prelle will focus on client coverage.
Prelle joined the company in 2000 and led the investment banking business in Germany from 2002 until September 2007. He was co-head of investment banking at EMEA and was a member of the investment bank’s executive board. -Global Banking News
UBS AG announced that Edmund Koh, who was recently at Carlyle Group, has joined UBS as chief executive officer of its wealth management business in Singapore. He will also become a member of the UBS Global Wealth Management executive committee. He will start his new job early next year.
Koh will replace Christine Ong, who is to assume new responsibilites at UBS early next year, and Gerald Chan, who will now focus solely on promoting fixed income clearing corporation (FICC). Koh will be reporting to UBS Wealth Management Asia Pacific CEO Kathryn Shih and UBS AG Asia Pacific co-chairmen and co-CEOs Alex Wilmot Sitwell and Chi-Won Yoon.
Koh, a former regional head of consumer banking at DBS, has a two-decade experience in financial services and recently helped reorganize Taiwan’s Ta Chong Bank for Carlyle. He has also served as CEO of Prudential Assurance Company.
UBS AG is set to name Michael Konigsberg as head of leveraged finance for the Americas for the Swiss bank.
Konigsberg will report to Brendan Connolly, global head of leveraged finance at UBS.
Konigsberg nearly 20 years of experience in leveraged finance. Formerly a managing director of distressed trading at Barclays Capital, which he left in March, he was also co-head of leveraged finance for Barclays in the New York office from October 2008 to July 2009. He also managed global leveraged finance at Lehman Brothers Holdings. -Global Banking News
UBS AG announced the appointment of John Dyment as global head of hedge fund distribution. He will be based in New York.
Dyment will be responsible for the management and development of UBS’s strategically important hedge fund franchise, with global functional responsibility for sales, capital introduction and business consultancy services to the hedge fund community within global prime services. He will also be responsible for coordinating all hedge fund sales activities across the investment bank’s FICC and equity divisions.
Dyment joins UBS from Shumway Capital Partners, a multi-asset hedge fund based in Greenwich, CT. -Business Wire
UBS AG has said that it has named Ashok Mittal as head of investment banking for India. He replaces former head Ganeshan Murugaiyan.
Mittal has been UBS’ chief investment-banking representative in India for the last two years. Previously, he has worked for Lehman Brothers and had also worked as co-head of investment banking with HSBC Holdings. -Global Banking News
UBS AG has hired two bankers from Morgan Stanley in an effort to strengthen its energy investment-banking division.
Jane Dabney and Steven Escaler will join UBS as executive directors in August, and will report to Thomas Langford, who was appointed to lead the energy investment banking division.
At Morgan Stanley, Dabney had focused on energy investment banking, most recently as an executive director and co-chief operating officer of the firm’s global natural-resources group.
An energy investment banker for the past 12 years, Escaler has most recently been an executive director in Morgan’s energy group, focused on mergers and acquisitions and coverage of select clients.
Langford was previously global head of Morgan Stanley’s energy group. -Global Banking News
UBS AG announced the appointment of Thomas Langford as global head of energy investment banking. He will be based in Houston.
Langford joins UBS from Morgan Stanley, where he spent 17 years in New York, Asia, and Houston as an investment banker, covering the energy industry. He most recently served as global head of the firm’s energy group. -Business Wire
UBS AG has named Gerard Aquilina as vice-chairman of global emerging markets.
Aquilina, who will assume his new role on May 18, 2011, will be based in Zurich and report to Paul Raphael, who is head of global markets overall for UBS.
Aquilina, a former private banker from Barclays, previously served as vice-chairman at Barclays Wealth. -Global Banking News
UBS AG has named Aashish Kamat as chairman of financial institutions coverage (FIC) for Asia-Pacific.
Kamat, who is set to join UBS on June 1, and will provide advice and solutions to financial institution group clients, working with the bank’s business divisions in the Asia-Pacific region. -Global Banking News
UBS AG announced that Benjamin Chandler has joined as the Asian head of synthetic equity.
Chandler joins from Deutsche Bank, where he has been since 2003. -Global Banking News
UBS Investment Bank named Stephen Cummings as a managing director and chairman of Americas investment banking. He will join on April 18, 2011.
In his new role, Cummings will be based in New York and report to Jimmy Neissa, Matthew Grounds and Simon Warshaw, joint global heads of investment banking.
Cummings was previously senior executive vice president and head of corporate and investment banking at Wachovia Bank.
UBS AG announced that it has named Erich Obersteiner as managing director of its Austrian investment banking division, covering mergers and acquisitions advice as well as debt and equity capital markets.
Obersteiner has most recently served as head of equity capital markets for central and eastern Europe at Raiffeisen Centrobank. -Global Banking News
UBS AG has announced that it has named Carsten Dentler, a former banker with Morgan Stanley, as joint head of its investment banking division in Germany. The appointment of Dentler, who also joins the Swiss bank’s top management board in Germany, is effective from October 1.
Dentler will be co-head with Mark Pohlmann, who has led the investment banking department since 2009. -Global Banking News
UBS AG has promoted several bankers in its investment banking department.
The company announced that Aryeh Bourkoff, currently joint global head of technology, media and telecoms, has been named as department head of the Americas. He replaces Kevin Cox, who will become chairman of UBS’ global industrial group, a newly created position.
In Europe, the Middle East, and Africa (EMEA) James Hartop and Nick Reid will replace Simon Warshaw, who was promoted to overall department co-head. Hartop is currently head of UBS’s EMEA global industrial group and Reid is a UK country coverage banker.
Diego Pignatelli will become chairman of the investment banking department in EMEA, but will retain his role as head of Italy.
Matt Hanning has been named as department head for Asia-Pacific, while David Chin will be sole head of Asia.
Guy Fowler will be the sole head of the Australasian investment banking department following the promotion of Matthew Grounds, who was named joint co-head for the overall department with Jimmy Neissa and Warshaw. -Global Banking News
UBS AG has announced that it has made changes to its top investment banking team.
The bank announced that Matthew Grounds and Simon Warshaw would join as new co-global heads of investment banking, They replace John Wall. In addition to the new role, Grounds would continue to be the bank’s country head of the Australian arm.
A third co-head, Jimmy Neissa, who had worked with Wall, will complete the team structure.
In their roles, Grounds would be based in Sydney, while Warshaw would work from London. Neissa would be operating from New York. -Global Banking News
UBS AG has said that it has promoted John Spencer as its new head of institutional sales for Australia.
Spencer replaces Georg Kanaan, the former head of UBS’s Sydney institutional sales desk. -Global Banking News
UBS AG announced that William Kennedy, currently head of the IPS unit’s capital markets arm, has been appointed as head of investment products and services (IPS), effective, Feb. 28. He replaces Andreas Amschwand.
Kennedy, who has been with UBS for 18 years, was head of European equities before joining the IPS unit in March 2010. -Global Banking News
UBS AG announced that it has appointed Iris Sanguinetti as an executive director and senior financial advisor in the firm’s Miami office.
Sanguinetti will be in charge of UBS business development for the Central American and Caribbean markets.
Sanguinetti joins UBS after 16 years with Northern Trust, where she served as senior vice president in Miami and a lead business development manager for Central and South America in providing new and existing clients estate planning, investment management and banking services. Previously, she served as a vice president and relationship manager with both Barclays Bank and Southeast Bank in Miami. -Business Wire
UBS AG has named Marcus Overhaus as head for global equity structuring. He would also be a co-head of securities structuring.
Overhaus has over 18 years of industry experience, and was earlier with Deutsche Bank. -Global Banking News IQ
Former JP Morgan executive Ian Slatter has resumed his career with a new role at UBS AG, where he has been appointed co-head of fixed-income, commodities and currencies (FICC) distribution for Europe, Middle East and Africa.
Slatter replaces Mark Jones, who is relocating to Hong Kong to lead the credit sales team for the Asia Pacific region.
Slatter took up the role with the FICC team on January 10 and reports to Roberto Hoornway, UBS’ global head of securities distribution.
UBS AG announced that Tom Naratil has been appointed as group chief financial officer and member of the group executive board, with effect from June 1, 2011. He replaces John Cryan.
In his new role, Naratil will call upon his extensive experience in the areas of finance and risk as well as his broad industry background.
Since 2009, Naratil has been chief financial officer and chief risk officer of wealth management Americas. Before 2009 he held various senior management positions within UBS, including heading the auction rate securities solutions group during the financial crisis in 2008. He was also global head of market strategy and development and served as a member of the executive committee of global wealth management and business banking.
Sergio Ermotti as also been appointed as chairman and CEO of Europe, Middle East and Africa and member of the group executive board, with effect from April 1, 2011.
In his new role at UBS, Ermotti will be responsible for managing growth in the region, increasing collaboration and ensuring profitability and regulatory compliance across business divisions in EMEA.
Ermotti is joining UBS from UniCredit where he was group deputy chief executive officer, responsible for the strategic business areas, corporate and investment banking and private banking. -Business Wire
UBS AG announced that Philip Lofts has been appointed as chief executive officer, UBS Group Americas and Maureen Miskovic has been appointed as group chief risk officer and member of the group executive board. The appointments are effective January 1, 2011.
In his new role as Americas CEO, Lofts will work together with the business division heads toward achieving sustainable growth in the region with a focus on strategy, profitability and integration. He was appointed group chief risk officer in November 2008.
Miskovic will be based in Zurich. She was, most recently, chief risk officer of State Street Corporation, as well as a member of that firm’s operating group and chair of its major risk committee. -Regulatory News Service
UBS AG announced that it has strengthened its leadership team in Brazil with the appointment of three senior executives.
Lywal Salles will join UBS as chairman of UBS Group Brazil and Eduardo Centola will join UBS as chief executive officer of UBS Investment Bank in Brazil. Additionally, upon the expected closing of UBS’s acquisition of Link Investimentos, Daniel Mendonca Barros will become CEO of the UBS broker-dealer and head of the UBS securities business in Brazil. All three will be based in Sao Paulo.
Salles will be responsible for oversight of all UBS’s businesses in Brazil. He currently serves as chairman of the Board of Banco Itau Europa International and Itau Europa Securities.
Centola will lead all areas of UBS Investment Bank in Brazil. He joins from Standard Bank Group where he has most recently served as CEO of the Americas.
In his role as CEO of UBS’s broker-dealer and head of securities, Barros will have responsibility over UBS’ equities and fixed income in Brazil. -Business Wire
UBS AG announced that it has named Yoshifumi Watanabe and Yuzo Otsuka to co-lead its investment banking business in Japan. They will replace current co-heads of investment banking operations of the company in Japan, Tomonori Ito and Yasuki Matsui.
Matsui has been named chairman of the investment banking business. -Global Banking News
UBS AG has appointed Andrew Quessy to its macro directional trading team in London.
Quessy will join UBS in November and report to David Tait, managing director of macro directional trading at the bank.
Quessy joins from Deutsche Bank AG., where he was most recently a rates trader. -Global Banking News
UBS AG has announced that it has appointed James Schaefer, current co-head of power and utilities investment banking in the Americas, as global head, to lead its newly formed renewable energy and clean technology investment banking unit, which will provide capital raising and strategic advisory services to clients.
In the Americas, the group would be led by David Dolezal.
Schaefer would also continue in his role as co-head of power and utilities investment banking. Dolezal will remain part of UBS’ technology group. -Global Banking News
UBS AG announced the appointment of Alex Wilmot-Sitwell as co-chairman and co-CEO of Asia Pacific.
Wilmot-Sitwell will lead the region together with Chi-Won Yoon, current chairman and CEO, Asia Pacific. He will be based in Hong Kong and will take over his new role on November 1, 2010.
Wilmot-Sitwell joined the company in 1996. He was appointed joint global head of the investment banking department in 2004, chairman and CEO of Europe, Middle East and Africa in 2008 and co-CEO of UBS Investment Bank in April 2009.
Carsten Kengeter, currently co-CEO UBS investment Bank, has also been appointed sole head of the investment bank.
Kengeter joined the company in 2008 as joint global head of fixed income, currencies and commodities (FICC) within UBS Investment Bank, becoming co-CEO of UBS Investment Bank in April 2009. -Regulatory News Service
UBS AG announced it has appointed Christian Wiesendanger as head of wealth management Switzerland, effective October 1, 2010. He will replace Stefan Bodmer, and will report to the CEO of UBS Switzerland, Lukas Gaehwiler.
Most recently, Wiesendanger worked for Swiss major bank Credit Suisse, where he was initially responsible for wealth management in central Switzerland and later became head of wealth management for Latin America. -Swiss Business Digest
UBS AG announced that Stephen Pak has joined from Credit Suisse Group AG to head a team that introduces Asian hedge funds to potential investors. He reports to Ashley Jarvis, global head of business and capital consultancy of the same unit.
Pak began in UBS’s prime brokerage division on Sept. 6 as Hong Kong-based head of regional capital introduction.
UBS AG has appointed Yoshifumi Watanabe, formerly with Citigroup, to head its financial industry coverage team in Japan. The new hire in UBS Securities Japan is effective from August 26, 2010. Prior to joining UBS, Watanabe served the same function at Citigroup global markets Japan, where he helped fund-raising initiatives of Japanese banking giants Mizuho Financial Group and Mitsubishi UFJ Financial Group among others.
UBS has appointed Wei Cai as co-manager of its investment banking business in China.
Cai, a former Morgan Stanley banker, will share the responsibility with Ju Zhao.
UBS has appointed Jakob Stott as head of UBS Wealth Management Europe, effective October 1, 2010.
Stott, 55, will be in charge of UBS’s onshore wealth management business in Europe. He will be responsible for over 45 offices in Germany, UK, France, Monaco, Italy, Spain, Austria, Luxembourg, Belgium and the Netherlands.
Previously, Stott has held numerous leadership positions at US bank JP Morgan. Most recently, he was chief operating officer for JP Morgan’s Investment Bank in Europe, the Middle East and Africa (EMEA) as well as global head of the reputation risk office. -Midnight Trader
UBS announced that Julien Bahurel has joined to lead its equity derivative sales for the Asia Pacific. The appointment will take effect later in 2010.
Bahurel will share the responsibility for the Swiss bank’s equity derivatives client strategy in the region with Michel Lee.
Bahurel was previously with Morgan Stanley.
UBS has also named Gilbert Langner as head of electronic volatility trading for the Asia Pacific. -M2 EquityBites
UBS has made three appointments as part of its efforts to strengthen its electronic currencies trading business.
Chris Purves will join as global head of electronic trading for foreign exchange.
Mark Meredith will be head of foreign-exchange electronic trading quantitative analytics.
Parwinder Sekhon will be head of foreign-exchange electronic trading infrastructure.
All three will join in October and report to Chris Vogelgesang and Arie Adler, co-heads of global foreign-exchange trading, based in London.
