(Reuters) – UBS appointed three banking veterans to lead its equity capital markets (ECM) unit in the U.S., as the world’s biggest wealth manager looks to ramp up other divisions after its takeover of Credit Suisse last year saddled it with losses.
The bank named Gregor Feige and Brad Miller co-heads of Americas ECM and Santiago Gilfond vice-chairman of the unit, according to a memo seen by Reuters.
Feige, who will also head technology, media and telecom (TMT), will start in his role in July 2024. He has previously worked at Citigroup and JPMorgan in his career spanning over 20 years.
Miller will take on the new role in addition to continuing as head of consumer and retail.
Gilfond joins the franchise after heading Americas ECM at Credit Suisse for more than 30 years. He will report to global co-head of ECM Tommy Rueger and also take on his new role while remaining as head of global industrials.
UBS’s takeover of Credit Suisse last March was the first-ever merger of two global systemically important banks. While the Swiss bank has managed to avoid any major ructions, it has signaled a tougher next phase for absorbing its rival after underwhelming fourth-quarter results.
The new appointments will help UBS build an even stronger ECM franchise while growing their technology sector, the memo said.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vijay Kishore)
