UBS has appointed Adrian Boehler as the Global Head of Macro Sales. Previously, Boehler served as the Global Head of FX Distribution at UBS since 2019. Before joining the company, he spent seven years at BNP Paribas, serving as the Co-Head of FXLM and Commodity Derivatives.
Additionally, Boehler held the role of the Global Head of FXLM Sales and the Global Head of Institutional FXLM Sales at BNP Paribas. Prior to his tenure at BNP Paribas, he held significant roles at HSBC and Goldman Sachs.
UBS Integration and Fallout
As UBS' integration with Credit Suisse continues, another prominent figure recently departed from the Swiss investment bank, the Wall Street Journal reported. David Klein, who held the position of the Global Head of Private Funds at Credit Suisse, moved to TWG.
David Klein's departure marked yet another significant loss for Credit Suisse after its acquisition by UBS. Klein's new role at TWG involves managing investments for Mark Walter's diverse portfolio. He will be tasked with raising funds for TWG's investments across various sectors, including financial services, renewable energy, sports, media and entertainment, art, eco-tourism, and agriculture.
Since UBS completed its takeover of Credit Suisse, a wave of departures has swept through the latter's ranks. The integration process has seen many high-level executives and private equity bankers seeking opportunities elsewhere, largely unaffected by the bank's recent troubles.
Post-Acquisition Changes
The merger between UBS and Credit Suisse marked the end of Credit Suisse's 167 years of independence. This action followed a series of scandals, including aiding tax evasion and a significant trading loss related to Archegos Capital Management.
Last year, UBS concluded its acquisition of Credit Suisse, culminating in creating a financial entity boasting a balance sheet worth $1.6 trillion and assets totaling $5 trillion. In an open letter published in Swiss newspapers, UBS's CEO, Sergio Ermotti, and the Chairman, Colm Kelleher, described the merger as the dawn of a new era.
They emphasized the synergies between UBS and Credit Suisse, aiming to leverage their combined expertise, scale, and leadership in wealth management to forge a stronger, more resilient entity.
