UBS Group AG Taps BofA Merrill Bruce MacKenzie to Head EMEA LCM

UBS Group AG, the world's largest wealth manager, today picked Bank of America’s Bruce MacKenzie as managing director of its leveraged capital markets (LCM) operations in Europe, the Middle East and Africa (EMEA).

Register now to the London Summit 2017, Europe’s largest gathering of top-tier retail brokers and institutional FX investors

MacKenzie will focus on loans and high Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term bonds within the LCM department, which combines UBS’s capital markets and leveraged finance operations. The hire further illustrates the bank’s push into the European DCM market and allows for the structuring and delivery of all debt products - including syndicated loans, institutional loans, and bonds - from one centralised unit.

MacKenzie brings over 20 years of experience in global leveraged finance capital markets in London and New York. In his new role, he will report to David Slade, global co-head of leveraged finance.

Bruce joins UBS from Bank of America Merrill Lynch, where he spent over six years working in senior positions within its European debt capital markets business. Most recently, he served as its managing director and head of high-yield capital markets in Europe, the Middle East and Africa.

UBS Group AG picked MacKenzie, who was also a former director of high-yield sales at Deutsche Bank for nearly 9 years, to head European high-yield capital markets, as the firm seeks to enhance its investment banking overseas and capitalize on increased demand for junk-rated debts. European high-yield debt issuance has hit record levels in both the primary and secondary markets this year.