The UBS has formed a new unit called the “Executive Client Group” consisting of nine bankers who will be responsible for managing the bank’s most important corporate clients worldwide and negotiating directly with company executives. The unit will be led by Ros L’Esperance and will report directly to Rob Karofsky, the head of UBS Investment Banking.
The goal of the unit is to enhance strategic engagement with key clients at the C-suite level, reflecting a similar approach taken in the bank’s Global Wealth Management division. This move follows the appointment of Benjamin Cavalli, former Asia chief of Credit Suisse, to oversee the bank’s most important strategic clients in the wealth management division.
The team assembled by Karofsky includes experienced bankers with extensive networks in their respective sectors. The European team consists of Ian Carnegie-Brown and Jason Hutchings, both from UBS. In America, Vik Hebatpuria, Gerry Lodge, and Simon Smith will join the team, while Catherine Cai, Fergus Horrobin, and Janice Hu will be part of the team in Asia.
L’Esperance, who previously served as co-head of Global Banking at UBS, has been appointed as the team leader for this new unit. She took on a more ceremonial role as Executive Vice Chair earlier this year after Marco Valla was hired from Barclays. However, she will continue to fulfill this role alongside her new responsibilities.
Despite the UBS’s commitment to limit the risks from investment banking to no more than 25% of its risk-weighted assets, Karofsky has ambitious plans to expand the bank’s advisory and capital markets business. This includes welcoming talent from Credit Suisse, as around 200 senior investment bankers from the acquired bank have joined UBS.
Overall, the formation of the Executive Client Group demonstrates UBS’s focus on strengthening relationships with its most important corporate clients and expanding its presence in the advisory and capital markets sector.
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| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇬🇧 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Benjamin Cavalli, Ian Carnegie-Brown, Rob Karofsky, Iqbal Khan, Ros L’Esperance |
| Companies | Barclays, UBS, Financial News, Credit Suisse |
| Currencies | None |
| Securities | None |
