The Swiss bank is promoting an investment banker to a vice-chairman job. He will continue to look after debt clients in some of UBS' biggest European markets.
The Zurich-based bank is naming Vinod Vasan as vice-chairman for global banking, according to a memo seen by finews.com. Vasan is a bond market veteran who rejoined UBS nearly five years ago, after a six-year stint with Deutsche Bank.
«In this newly created position, Vinod will devote more time to applying his knowledge and experience of origination and structuring holistically across a range of financing opportunities in both public markets and private markets,» according to the memo, co-signed by global banking co-head Javier Oficialdegui and public capital markets boss Brendan Connolly.
Active Debt Role
Vasan will continue to cover financial institutions in their debt needs, mainly in the U.K., Nordics, and Netherlands. A spokeswoman for UBS confirmed the move, first reported by trade publication «Financial News» (behind paywall).
UBS has an undisclosed number of vice-chairman, typically veterans it wishes to retain, but – unlike Vasan – no longer hold an operational role. These alumni are not listed in the Swiss bank's management ranks, but are viewed as important client liaisons.
