April 10, 2024

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Distinctive: Major Barclays TMT expense bankers decamp for UBS -sources

NEW YORK, May perhaps 15 (Reuters) – At the very least 7 major Barclays Plc (BARC.L) engineering, media and telecom financial commitment bankers have resigned to be part of UBS Team AG (UBSG.S) in the United States in the past several days, individuals familiar with the make any difference said.

The moves include to a trio of Barclays U.S. investment bankers that UBS announced it employed final thirty day period. They illustrate how UBS is beefing up its bench of U.S. talent even as it is established to inherit Credit history Suisse Group AG’s (CSGN.S) financial investment banking team next a Swiss government-orchestrated takeover in March. Lots of Credit rating Suisse bankers are primarily based in the United States.

UBS has employed Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer and Ken Tittle from Barclays, the resources mentioned. These bankers abide by Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS have been declared in April.

The sources requested anonymity to explore confidential personnel issues. Barclays did not right away respond to a request for remark, though UBS declined to remark.

UBS and Credit history Suisse, neighbors in their hometown of Zurich, competed head-to-head above a long time for mergers and first general public choices throughout the globe. Sources instructed Reuters last thirty day period that UBS plans to retain only a compact selection of Credit rating Suisse senior bankers with sturdy shopper interactions.

Credit history Suisse was planning to spin off its investment decision banking functions into a standalone organization with veteran dealmaker Michael Klein at the helm. UBS vetoed that approach following the rescue of its Swiss peer.

At Barclays, Braham was international chair of investment decision banking for technology, while Hardegree served as vice chair and head of know-how M&A. They labored on some of the biggest promotions in the technologies sector, together with chip maker Broadcom Inc’s (AVGO.O) $61 billion offer to invest in enterprise program maker VMware Inc (VMW.N) in 2022.

Casavechia was international chair of banking at Barclays. Ramos served as vice chair and head of communications, cable and satellite. Williams, Meyer and Tittle had been running administrators in the expense banking group.

Reporting by Milana Vinn and Anirban Sen in New York
Modifying by Greg Roumeliotis

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