UPDATE 1-Moelis hires former UBS banker Meehan

Thu Oct 6, 2011 10:24am EDT

* Meehan to serve as a managing director in healthcare

* Meehan previously worked as CEO of UBS Russia and CIS

Oct 6 (Reuters) - Independent investment bank Moelis & Co said on Thursday it named former UBS AG (UBSN.VX) (UBS.N) executive Steven Meehan as a managing director in healthcare investment banking.

Meehan previously served as CEO of UBS Russia and CIS across all businesses, including securities, investment banking and wealth management, Moelis said.

He was also a member of the UBS Group Europe, Middle East, Africa Management Committee. He joined UBS in 1999 as part of the team that formed the global healthcare group as head of life sciences.

UBS recently saw the resignation of its Chief Executive Oswald Grubel in the wake of a trading scandal that had cost the Swiss bank as much as $2.3 billion.

UBS also has been losing talent in its investment bank, which over the last few years has seen scores of bankers leave the company. (Reporting by Jessica Hall, editing by Gerald E. McCormick) (For more M&A news and our DealZone blog, go to here)

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