UPDATE 1-Hoveyda to join UBS in senior coverage role
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LONDON, Oct 4 (IFR) - Amir Hoveyda is joining UBS as Vice Chairman in corporate client solutions for Europe, Middle East and Africa, in a move that will beef up the bank's coverage expertise in the financial institutions group sector.
Hoveyda is a FIG specialist with 25 years investment banking experience, and will leave StormHarbour, which he joined two years ago as partner and managing principal, in January.
In his new role, Hoveyda will be focusing on capital markets and financing for a range of important clients, mostly in the financial institutions sector, according to a UBS memo.
His appointment highlights the shift at UBS towards advisory and capital markets after its high profile shuttering of capital-intensive fixed income trading businesses nearly a year ago.
Before joining StormHarbour, a fixed income investment banking boutique, Hoveyda worked for 14 years at Bank of America Merrill Lynch with Andrea Orcel, now CEO of the investment bank at UBS.
Hoveyda ran debt capital markets, EMEA, for 18 months after Merrill was taken over by Bank of America, and before that held several senior roles in FIG investment banking and DCM. He started his career at Salomon Brothers 25 years ago.
UBS confirmed that Hoveyda is joining the bank but declined to comment further. He reports to William Vereker, who heads the CCS division for the region, and will work closely with David Soanes, global head of FIG.
Vereker moved to the Swiss bank in April from Nomura where he was global head of the investment bank.
Orcel is a FIG rainmaker behind several big M&A situations, including the sale of ABN in 2008, and since joining in 2012, has hired several colleagues from Merrill including Javier Oficialdegui, who is co-head of FIG, EMEA. (Reporting by Alex Chambers, editing by Julian Baker)
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