Global investment bank UBS will be hard to topple from its leading positions in equity capital markets and M&A in Australia. But Barrenjoey is doing all the right things to achieve that goal.
(Bloomberg) UBS Group AG hired four new people and promoted two others for its equities and research team in Australia and New Zealand, as it continues to rebuild a team raided by rivals in recent months. The Swiss lender hired John Storey from JPMorgan Chase & Co in South Africa as banks analyst, UBS said Thursday. Storey fills a position left vacant when top-rated analyst Jonathan Mott left for startup bank Barrenjoey Capital Partners earlier this year. Richard Schellbach, formerly at Citigroup Inc. in London, is joining as equity strategist, replacing Pieter Stoltz who left to become head of quantitative strategies at fund manager Eley Griffiths. In the global markets division, Tom Tepaa joined the block trading desk from Goldman Sachs Group Inc. in Singapore, while David Nicholson moved from Citigroup in Boston to work on UBS’s Australian equity sales team. UBS also promoted two people in its global markets team in New Zealand. Thomas Buchanan will relocate from Hong Kong to be
UBS Vows to Pay Up to Rebuild Australia Team After Raid
This content was published on March 15, 2021 - 21:47
March 15, 2021 - 21:47
(Bloomberg) UBS Group AG has vowed to pay up for top talent to rebuild its team in Australia following a poaching spree from upstart rivals in the country where the Swiss bank has dominated deals in recent decades.
The Australian business, consistently one of the best performers for the bank globally, has been under pressure in recent months as former executives heading up new rivals lure staff with big payouts.
Still, Anthony Sweetman, co-chief executive officer of Australasia, says UBS remains an attractive employer. The bank has made more than 10 new senior hires in recent months.