UK Rainmaker Ian Hart to Rejoin UBS From Takeover Panel

(Bloomberg) — Veteran UK dealmaker Ian Hart is set to rejoin UBS Group AG as Co-Chairman of UK Global Banking after spending three years as director general of the UK’s takeover panel.

Hart will report to Ros L’Esperance and will be primarily focused on UK clients and transactions, according to a memo seen by Bloomberg News. He will rejoin the Swiss lender in July.

Hart has over 30 years of dealmaking experience and has worked with clients including SABMiller, British American Tobacco Plc and Signature Aviation, the memo said.

Hart will also report locally to Jonathan Grundy and David James, who are co-heads of UK banking at UBS. A spokesperson for UBS confirmed the contents of the memo.

The takeover panel is an independent body whose main functions are to supervise and regulate deals in the UK, ensuring an orderly framework for takeover bids. Earlier this year, Barclays Plc said that Omar Faruqui, co-head of M&A for Europe, Middle East and Africa, was named director general of the panel, starting May 1.

(Updates with more details on takeover panel.)

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