UBS AG hired Severin Brizay from JPMorgan Chase & Co. to oversee its mergers and acquisitions team in Europe, the Middle East and Africa as Switzerland’s largest bank overhauls management of the business.
At 8 a.m. on Jan. 10, Takumi Shibata, chief operating officer of Nomura Holdings Inc., walked into the firm’s London boardroom overlooking the River Thames to try to salvage the 2008 acquisition of the European and Asian units of bankrupt Lehman Brothers Holdings Inc.
As Wall Street chief executive officers flock to the World Economic Forum, they’ll be breathing a sigh of relief along with the Swiss mountain air: There are no panels on compensation or redesigning financial regulation.
UBS AG, Switzerland’s biggest bank, increased its bonus pool 28 percent for 2013 as it returned to profit after a loss the previous year on reorganization charges and a fine for trying to rig global interest rates.
The balance of power among dealmakers is shifting, and this year’s World Economic Forum is proof: A record number of executives from emerging markets will attend the Alpine conference, a networking mecca for the global business elite.
Nomura Holdings Inc. ’s deputy global investment banking head, Christian Meissner , quit less than two years after he arranged the sale of Lehman Brothers Holdings Inc.’s European unit to the Japanese brokerage.
Nomura Holdings Inc. will start cutting jobs in Europe this month as it pares ambitions to be a full-service, global investment bank and takes a narrower focus on four or five industries in the region, according to three people with knowledge of the situation.