In a strategic move to bolster its Equity Capital Markets (ECM) division in the United States, UBS, the leading global wealth manager, has announced the appointment of three seasoned banking professionals. This decision comes in the wake of the firm's acquisition of Credit Suisse, which brought about significant financial setbacks.
The bank has appointed Gregor Feige and Brad Miller as co-heads of Americas ECM, alongside Santiago Gilfond who will serve as the unit's vice-chairman. These appointments are part of UBS's efforts to strengthen its operations and mitigate the challenges encountered following the Credit Suisse merger.
Gregor Feige, who is set to also oversee the technology, media, and telecom (TMT) sectors, will assume his position in July 2024. Feige brings over two decades of experience to the table, having previously held roles at Citigroup and JPMorgan.
Brad Miller will expand his responsibilities by taking on this new role while continuing to lead the consumer and retail sectors. Santiago Gilfond, with a robust background spanning over three decades at Credit Suisse's Americas ECM, will report to Tommy Rueger, the global co-head of ECM, and will also maintain his position as head of global industrials.
The merger between UBS and Credit Suisse last March marked a historic consolidation of two globally significant banks. Despite navigating through the initial stages without major disruptions, UBS has acknowledged the challenges ahead, especially after a less-than-expected performance in the fourth quarter. The recent executive appointments are aimed at fortifying UBS's ECM operations and enhancing its technology sector presence.
