Changes to UBS's Investment Bank senior management
UBS today announced that William Vereker will join the Investment Bank on 1 June as Head of Corporate Client Solutions(1), EMEA. William joins UBS from Nomura where he was Joint Head of Global Investment Banking.
In addition, UBS’s Investment Bank will establish a new cross business, global Financial Institutions Group which will be led by David Soanes. Both William and David will report into the Investment Bank’s CEO, Andrea Orcel, and will be Executive Committee members.
Andrea Orcel, CEO of UBS's Investment Bank, said: “Continuing to strengthen our Institutional Client franchise in Europe is crucial for us and I am convinced that somebody of William's calibre will significantly contribute towards achieving our ambitions in the region.''
"It is also clear to me that we will benefit from an integrated approach to serving our FIG clients - a critical sector for UBS. David is one of the markets leading FIG specialists, and with his leadership, I am confident we can fully leverage the entire bank's capabilities to better serve clients globally in this sector.”
Background on William Vereker
William joins from Nomura where he was Joint Head of Global Investment Banking. Prior to this he was Head of European Investment Banking. He was formerly at Lehman Brothers where he held the position of European Head of Investment Banking and before that he was Head of Global Natural Resources and Power. William also held a number of roles in investment banking at Morgan Stanley over a 9 year period. William's clients include many of the world's largest natural resources and utility companies and he has been involved in many of the landmark transactions across those sectors over the last 25 years. Most recently, he advised Xstrata in relation to their merger with Glencore and International Power with respect to their acquisition by GDF Suez.
(1) In October 2012, UBS reorganized its Investment Bank around two core client segments – Corporate Client Solutions (CCS) and Investor Client Services (ICS). CCS includes all advisory, capital markets financing solutions and execution for corporate, financial and sponsor clients. It comprises IBD, GCM, leveraged finance, commercial real estate, special situations and structured financing capabilities.
About UBS AG
We draw on our 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Our business strategy is centred on our pre-eminent global wealth management businesses and our leading universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, we will expand our premier wealth management franchise and drive further growth across the Group.
Headquartered in Zurich and Basel, Switzerland, UBS has offices in more than 50 countries, including all major financial centres, and employs approximately 63,000 people. Under Swiss company law, UBS is organized as an Aktiengesellschaft, a corporation that has issued shares of common stock to investors. UBS AG is the parent company of the UBS Group (Group).
The operational structure of the Group comprises the Corporate Centre and five business divisions: Wealth Management, Wealth Management Americas, Investment Bank, Global Asset Management and Retail & Corporate.
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