UBS to Merge M&A, Sponsor Advisory in Investment Banking Revamp

(Bloomberg) — UBS Group AG is combining its mergers and acquisitions business and sponsor advisory into one unit as part of an internal restructuring.

Jeff Hinton and Nestor Paz-Galindo, currently global co-heads of M&A, will lead the newly created corporate and sponsor advisory group, according to an internal memo reviewed by Bloomberg News. The bank will hence dismantle its alternative capital group and Simona Maellare, co-head of this business, will leave the lender. Terry Sullivan, the other co-head of the alternative capital group and global head of financial institutions group, will become chairman of the global financial institutions group. 

Vik Hebatpuria and Stefanos Papapanagiotou will be the new global co-heads of the financial institutions group, reporting to Javier Oficialdegui, head of global banking at the Swiss lender, the memo showed. Peter Toal is joining UBS as global head of leveraged and debt capital markets from Oct. 1. Toal has spent almost 17 years at Barclays Plc, most recently as its global head of fixed income syndicate, his LinkedIn profile shows.

A spokesman for UBS confirmed the contents of the memo.

UBS has been bolstering its investment banking footprint since the acquisition of Credit Suisse, boosting its presence in the US. The bank has made several senior hires on both sides of the Atlantic as it seeks to win more market share from rivals. It hired former BNP Paribas SA banker Jacob Spens as vice chairman for global banking in the Nordic region in June. The lender also hired three investment bankers specializing in biotechnology from RBC Capital Markets in March to expand its health-care dealmaking in the US.

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