UBS poaches Morgan Stanley's global head of research
LONDON, Sept 18
LONDON, Sept 18 (Reuters) - Swiss bank UBS said on Wednesday it has appointed Morgan Stanley's Juan Luis Perez as its global head of research.
Perez, currently global head of research at Morgan Stanley, will join UBS in December after 21 years at the U.S. bank.
Unlike UBS's previous global research heads, Perez will cover all asset classes and will report directly to Andrea Orcel, chief executive of UBS Investment Bank. He will also take a seat on the investment bank's Executive Committee.
The Swiss bank also poached Morgan Stanley's chief operating officer for investment research, Barry Hurewitz.
Hurewitz, a Harvard Business School graduate, has been responsible for planning, marketing and technology for Morgan Stanley's global research operations since 2004.
Hurewitz will also start at UBS in December.
In an internal memo to staff, Orcel described the pair as "high calibre hires" and said their decision to move to UBS was an endorsement of the bank's "new, client-centric model".
UBS recently restructured its investment bank, largely exiting the fixed income business and cutting jobs.