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UBS investment banking loses two major players in the large French market. They also follow the call of American competition
. Grégoire Haemmerle will now lead Citigroup's investment banking activities in France and other French-speaking countries in Europe, the Middle East and Africa (Emea). This emerges from a memo from the big American bank, quoted by the "Dow Jones" agency.
For the UBS rival, this means finding a new boss for their investment bank in France, Belgium and Luxembourg. Haemmerle joined the large Swiss bank in early 2015 after working for J.P. Morgan became one of the leading "rainmakers" in the business mergers and acquisitions (M & A) business. UBS led the banker to strengthen his position in Europe at that time
Intellect instead of Mass
Citi now plans to do it, and next to Haemmerle he Peter Drevillon courted. He is currently responsible for M & A advisory services in France, Belgium and Luxembourg at UBS and will be responsible for Citi's activities in France. Drevillon and Haemmerle meet faces known to the big American bank: the head of mergers and acquisitions in the region of Emea, Alison Harding-Jones, also comes from UBS
Andrea Orcel started well in 2018, but like other European houses, he has to fight more and more with the commercial power of American competition. They use their huge balance sheets as a weapon; the managing director of the UBS investment bank, Javier Oficialdegui, relies instead on "intellectual capital", that is to say the experience and the large networks with companies
the new strategy is only partially affected, as suggested by the departure of Drevillon and Haemmerle. This year, UBS has already lost a number of negotiators to US institutions, such as Severin Brizay and Daniele Apa.
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