(Adds context, background)
By Alex Chambers
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
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
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)