UBS Group AG is retaining 12 Credit Suisse bankers to help lead its global banking business in the Americas as it seeks to capitalize on its former rival’s US presence to expand.
(Bloomberg) — UBS Group AG is retaining 12 Credit Suisse bankers to help lead its global banking business in the Americas as it seeks to capitalize on its former rival’s US presence to expand.
The staff retained by the Swiss lender as part of its global banking Americas leadership team include head of global industries group for the Americas Emre Gunalp, co-head of healthcare for the region Jason English as well as Diron Jebejian, who stays on as Americas co-head of financial sponsors, according to a memo to staff seen by Bloomberg News.
An upshot of UBS’s Credit Suisse takeover is a deeper foothold in the US, where UBS is seeking to better compete with its Wall Street rivals and grow beyond its traditional markets. Credit Suisse has a long history in the US, gaining significant Wall Street clout following its takeover of First Boston more than 30 years ago. The bank’s investment bank division was named Credit Suisse First Boston until 2005 when it decided to retire the name.
As Credit Suisse began a sweeping restructuring last year following a series of scandals, it planned to carve out parts of its investment bank and resurrect the First Boston brand. Those plans quickly unraveled when UBS showed little interest in pursuing that deal.
UBS’s regional leadership group will also include global group heads based in the Americas including former Credit Suisse bankers David Kostel, who is global co-head of coverage and global head of healthcare, Jon Levin, who is global head of consumer and retail, global co-head of leveraged and debt capital markets Marc Warm, Scott Lindsay and Robin Rankin who are both chairs of global M&A, and Gerry Lodge, Phil Jacob, Craig Oxman, Ernie Ruehl, Richard Casavechia, Joe Hershberger and Mathieu Salas, who all serve as vice chairmen.
(Updates with additional vice chairs in final paragraph)
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