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|Subject: UBS has made a marquee hire in New York Sep. 28, 2016, 8:00 AM Sat May 18, 2019 12:36 am|| |
[size=35]UBS has made a marquee hire in New York[/size]Sep. 28, 2016, 8:00 AM
Andrea Orcel, president of UBS' investment bank UBSUBS has made a big hire in the US.
Bob Foresman will join the company as vice chairman of UBS Investment Bank on October 3, according to a memo seen by Business Insider. A spokeswoman confirmed the contents of the memo.
He will report directly to Andrea Orcel, president of the investment bank, and will be based in New York.
"He will bring his extensive relationships, political and geopolitical understanding and strategic experience, to add additional weight to, and strengthen, our client offering," Orcel wrote in the memo.
Foresman has spent much of his career in Russia, writing his Harvard thesis on voucher privatization in the country. He was most recently country head for Russia at Barclays, and before that was deputy chairman at Russian investment bank Renaissance Capital, which is now owned by billionaire Mikhail Prokhorov.
His appointment follows a shake-up in UBS's senior ranks back in June. As part of those changes, London-based William Vereker and New York-based Ros Stephenson were named global co-heads of corporate client solutions. Sam Kendall was named head of CCS in Asia Pacific.