UBS promotes SPAC head to co-lead U.S. equity capital markets business: memo

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland June 22, 2020. REUTERS/Arnd Wiegmannhas elevated the head of its special purpose acquisition company practice, Jeff Mortara, to co-lead its equity capital markets business for the Americas, the investment bank said in internal memo seen by Reuters.

Mortara’s promotion underscores the growing popularity of SPACs, as well as their importance to UBS’s ECM franchise. SPACs have raised a record $59.2 billion through IPOs in 2020, up from $13.6 billion in 2019 which had been the previous record year, SPAC Research data showed., where he helped initiate its SPAC business in 2004.

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Is this a joke?

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