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UBS rejigs investment bank in bid to better compete with Wall Street

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UBS announced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse.

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File Photoannounced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse.

UBS is hiring top bankers from competitors as well as promoting staff from within its ranks and Credit Suisse as part of the shake-up, which will also lead to hundreds leaving. Christian Lesueur, who was Global Head of TMT Investment Banking at UBS, has been promoted to Global Co-Head of Coverage and will continue to oversee technology, media and telecoms, which will now be split into two groups.

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