2024-04-02 19:11:02
UBS has named three banking industry veterans to lead its U.S. capital markets unit, as the world’s largest wealth manager seeks to strengthen other divisions after its takeover of Credit Suisse last year l was overwhelmed with losses.
The bank named Gregor Feige and Brad Miller co-heads of the Americas ECM unit and Santiago Gilfond vice president of the unit, according to a memo seen by Reuters.
Feige, who will also lead Technology, Media and Telecommunications (TMT), will begin his role in July 2024. He previously worked at Citigroup and JPMorgan during his 20-year career.
Mr. Miller will assume this new role while continuing to lead the consumer and retail sector.
Gilfond joins the franchise after leading Americas ECM at Credit Suisse for more than 30 years. He will report to Global Co-Head of ECM, Tommy Rueger, and will assume his new role while remaining responsible for the global industry.
The takeover of Credit Suisse by UBS last March was the first ever merger of two globally systemically important banks. Although the Swiss bank managed to avoid any major ruin, it indicated that the next phase of absorbing its rival would be more difficult after disappointing fourth-quarter results.
The new appointments will help UBS build an even stronger ECM franchise while growing its technology sector, according to the memo. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vijay Kishore)
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