UBS Group AG is set to make management changes to its investment banking division as soon as Monday, with several senior bankers in talks to leave, Reuters reported, citing people familiar with the matter.
The reorganization is set to unify teams following the completion of UBS’s takeover of Credit Suisse, according to the report. The changes will be in several dealmaking teams, including healthcare, consumer/retail, financial sponsors and equity capital markets, the news service said. Some Credit Suisse bankers will be given roles in the combined company, while some will leave along with some UBS bankers, it said.
- Jon Levin, who has served as Credit Suisse’s head of retail investment banking, is in talks to replace Jeff Rose, one of the team heads in charge of UBS’s global consumer products and retail deals
- Matt Eilers, UBS’s global head of financial sponsors, is also in talks about possibly quiting
- Rob DiGia, UBS’s global head of healthcare, will stay at the bank and is in discussions about taking on a chairman-level role
The changes have not been finalized and restructuring plans are still being worked out, Reuters said. UBS spokeswoman declined to comment to Reuters.
Read more: UBS Plans to Reshuffle Tech, Media, Telecom Team: Reuters
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