Bank of America is poaching a long-standing UBS equity capital markets banker in Europe, finews.com has learned.
The U.S. bank is hiring Thorsten Pauli to run equity capital markets in Germany, Austria, and Switzerland, according to a memorandum seen by finews.com. A spokeswoman for Bank of America confirmed the move. Pauli, who has been with Swiss giant UBS for 20 years, will begin at the North Carolina-based bank in Zurich in November.
He had been a key investment banker in the region for UBS since his boss, Christine Novakovic (click here to read a profile) moved to the top European job at the bank's flagship wealth arm. Pauli had been behind major deals like the April stock listing of Stadler Rail.
Bank of America has poached prolifically from rivals: last year, it grabbed Jerome Renard from Credit Suisse as its head of equity capital markets in Europe. It also hired Magnus Ericson from Sweden's SEB for the same job in the Nordics.
