UBS executive vice chair Ros L’Esperance to leave at month-end

Ros L’Esperance, 1 of UBS’s astir elder concern bankers, volition depart the Swiss slope astatine the extremity of the month, Reuters reported, citing an interior memo it reviewed.

According to the memo from Marco Valla, co-president of UBS’s Investment Bank and caput of planetary banking, L’Esperance - enforcement vice seat of the Investment Bank — is leaving to prosecute opportunities extracurricular the firm.

Valla took implicit the apical planetary banking relation from L’Esperance successful 2023.

After Valla joined UBS from Barclays that year, L’Esperance moved distant from her presumption arsenic co-head of planetary banking to ore connected strategy and to acceptable up a caller advisory radical for the bank’s astir elder client-facing bankers.

L’Esperance joined UBS successful 2014. Before that, she held the relation of caput of planetary firm concern astatine Lehman Brothers, and aboriginal astatine Barclays aft it bought Lehman’s North American concern banking and superior markets operations during the 2008 fiscal crisis.

In the memo, Valla described her arsenic 1 of the astir influential Wall Street bankers and said she was cardinal to shaping UBS’s planetary banking business, besides noting her absorption connected mentoring colleagues.

UBS declined to remark to Reuters, and L’Esperance was not instantly reachable, the study said.

Recently, UBS received support for a nationalist banking licence successful the US, pursuing confirmation from the Office of the Comptroller of the Currency.

In a LinkedIn video statement, Rob Karofsky said: “This volition fortify our momentum successful ​the US and it reinforces our ambition to pb arsenic a premier planetary wealthiness ⁠manager.”

“We’re present going to spell head-to-head with offering mundane banking,” helium said.

The Swiss banking elephantine applied for a licence successful October of past year.

"UBS enforcement vice seat Ros L’Esperance to permission astatine month-end" was primitively created and published by Private Banker International, a GlobalData owned brand.

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