UBS has decided on the leadership structure for its global banking business, which incorporates both debt and equity capital markets as well as advisory.
The Swiss bank, which agreed in March to take over beleaguered peer Credit Suisse for SFr3bn (US$3.3bn) following state intervention, has appointed two former Credit Suisse bankers to its 10-strong leadership team for global banking.
David Kostel has been appointed global co-head of coverage and Tom Churton will be global chief of staff, according to a memo seen by IFR from Marco Valla and Javier Oficialdegui, co-heads of global banking. Kostel will also be global head of healthcare.
Kostel’s co-head of coverage is Christian Lesueur, who will also be global co-head of media and telecoms with Neil Meyer, and global co-head of technology with Laurence Braham.
Brendan Connolly has been appointed global head of public capital markets. Marc-Anthony Hourihan and Nestor Paz-Galindo will be global co-heads of M&A; Simona Maellare and Terry Sullivan global co-heads of the alternative capital group; Gaetano Bassolino head of global banking for Asia Pacific; and Frances Later global operating officer.
Another former leadership team member Ros L’Esperance remains executive vice chair for the investment bank and on the UK leadership team, reporting to Rob Karofsky, head of the investment bank.
In addition to these top level appointments, UBS announced a raft of other roles. Those retained from Credit Suisse include Scott Lindsay and Robin Rankin who will be co-chairs of global M&A. Marc Warm will be global co-head of leveraged and debt capital markets, alongside David Slade from UBS. Warm and Slade will report to Connolly, as will Gareth McCartney, global co-head of equity capital markets with Jeff Mortara.
Others already at UBS reporting directly to Valla and Oficialdegui are Jon Levin, global head of consumer and retail; Laurent Bouvier, global head of ESG advisory; Terry Sullivan, global head of financial institutions group; Philippe Chryssicopoulos, global co-head of global industries group with Eric Moskal; Fergus Horrobin, global head of real estate, lodging and leisure; Ian Carnegie-Brown, co-chair of global consumer and retail with Philippe Drouin; Rob DiGia, chair of global healthcare; Jason Hutchings, global head of private financing markets and head of global family and institutional wealth capabilities; and Leslie Hughes, chief of staff for global banking Americas and global head of talent management.
Kevin Kuryla, global head of the private funds group, will report to Maellare and Sullivan. Charles Otton, head of global family and institutional wealth Americas and chair of global industries group, will report to George Athanasopoulos, co-head of global markets and head of GFIW. Kelvin Barry, co-head of Great Britain, Australia & New Zealand with Richard Sleijpen, will report to Anthony Sweetman, country co-head of Australia. And Alice Crawley, global head of investment bank business selection and reputational risk, will report to Karofsky.
Valla and Oficialdegui said Michael Santini, executive chair of global banking, is leaving the bank at the end of September and Paul Crisci, global co-head of TMT and global head of private markets, will leave at the same time. Matt Eilers, global co-head of the alternative capital group, will leave in the coming weeks.