UBS Names Greg Kennedy Head of Private Solutions Business

Nov. 21 (Bloomberg) — UBS AG, Switzerland’s largest lender, has named Greg Kennedy head of its private solutions business for the Americas, which offers financing services to corporations and wealth management clients, according to a memo obtained by Bloomberg news.

Kennedy, who joined UBS in 2012 from Barclays Plc and was most recently co-head of financial institutions for the Americas, will now report to James Palmer, UBS’ head of equity capital markets for the Americas, according to the memo. The contents of the memo were confirmed by a company spokesperson.

As part of the move, Steve Pierson, who joined UBS in 2013 from Credit Suisse Group AG, will now become sole head of financial institutions in the Americas.

UBS recruited Kennedy and Pierson to rebuild its financial services advisory practice. Other hires have included bank mergers and acquisitions specialist Tannon Krumpelman from Goldman Sachs Group Inc. in March, and Jim Voorheis, who joined as head of specialty finance for the Americas last year from Deutsche Bank AG.

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