UBS is promoting a veteran Swiss banker as head of its investment bank in Switzerland. The move comes alongside a revamp of the securities unit amid cost-cutting.
The Swiss bank is naming Martin Kesselring (pictured below) head of investment banking in Switzerland, according to a memo seen by finews.com. His appointment is effective from Friday.
The 54-year-old is to «ensure a comprehensive regional focus of our investment banking activities under the new structure, while maintaining their strong interaction with the Swiss business,» overall securities co-head Piero Novelli and Swiss boss Axel Lehmann said in the memo.
Prior to his current job as head of global banking in Switzerland, Kesselring was head of Morgan Stanley's Zurich branch as well as the U.S. firm's investment banking in Switzerland. Reinout Boettcher will take over Kesselring's current job.
