UBS hires Barclays executives to beef up investment banking in U.S

Logo of Swiss bank UBS is seen in Zurich

(Reuters) – UBS Group said on Monday it had hired three executives from Barclays Plc in a big push to ramp up its U.S. investment banking presence.

Switzerland-based UBS, which has been lagging peers in the United States, said it hired Marco Valla, Jeff Hinton and Kurt Anthony from Barclays for its global banking teams in New York.

Valla joins UBS as co-head of global banking alongside Javier Oficialdegui, while Hinton and Anthony will also join the global banking team, according to an internal memo. A UBS spokesperson confirmed the contents.

Valla replaces Ros L’Esperance, who will drive strategy for the global banking business and create a new corporate advisory group for the most senior client-facing bankers.

Previously at Barclays, Valla was global head of TMT and consumer retail. Hinton served as co-head of Americas M&A, while Anthony is a managing director in the consumer retail group.

UBS was ranked 14th in advising on mergers globally and 19th in underwriting share sales last year, according to data compiled by Dealogic.

“The acquisition of Credit Suisse, together with our previously approved investment plans, provides us with an unparalleled opportunity to expand the size and scope of our global banking footprint, particularly in the Americas,” UBS said in the memo.

UBS bankers over recent weeks have been meeting with their counterparts at Credit Suisse in the world’s biggest financial centres, to move quickly on potential new jobs once the merger is completed, four sources with knowledge of the talks told Reuters.

UBS acquired Credit Suisse last month in a state-orchestrated shotgun takeover worth north of $3 billion to avoid the collapse of the 167-year old flagship bank.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel)