UBS in 'sweeping overhaul' of investment banking leadership

'A perfect storm of challenges'.

UBS investment-banking chief Andrea Orcel announced the departure of three senior executives in , citing the need to streamline operations amid “dislocation” from turbulent markets and increased regulation.

Bloomberg News reports that Roger Naylor, co-head of equities, Chris Murphy, co-head of fixed income, rates and currency, and Matt Hanning, head of corporate client solutions in the Asia Pacific region, will all step down, Orcel said in a Wednesday memo to staff whose contents were confirmed by a spokesman. The businesses will be run by the remaining co-heads, with George Athanasopoulos in charge of the fixed-income group, Ros Stephenson and William Vereker leading corporate client solutions and Rob Karofsky heading equities.

'We are now in a period of dislocation - a perfect storm of challenges and changes from regulation, competitors and markets', Orcel said in the memo.

To access the complete Bloomberg News article hit the link below:

UBS’s Murphy and Naylor Leave as Orcel Overhauls Senior Team

After Brexit, Here’s What’s Next for Europe

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News