LONDON, Sept 23 (IFR) - UBS's EMEA head of global capital
solutions has left after less than two years in the job,
becoming the latest official to leave the Swiss bank's financial
institutions group business.
Johan Eriksson follows Anthony Tobin and Eva Porz, who both
left the bank this year. Tobin resigned from the syndicate team
in May to join RBC after around a year in the job, while Porz
left the debt capital markets solutions team to join Lloyds
earlier this summer.
UBS has not replaced Eriksson and has no immediate plans to
hire any external staff to fill the gap in the debt capital
markets team, according to multiple market sources.
According to sources, Rob Baston, managing director of
capital solutions at UBS, will now take additional
responsibility for UBS's capital business in Europe.
Both UBS and Eriksson were unavailable for comment.
UBS late last year announced plans to cull around 10,000
staff as the Swiss bank returns to its roots in private banking
in the face of tough capital rules that make it harder to turn a
profit from trading.
The bank shut its sovereign, supranational and agency debt
capital markets business as part of the cull.
"I'm pretty surprised to see Johan go," said a hybrid
capital expert at a rival bank.
"We've been hearing that he was on a sabbatical prior to his
departure, which meant he was very hard to get hold of. This
really doesn't leave many people on the ground at UBS, which is
surprising considering they're such a strong (bank) capital
Eriksson became head of global capital solutions in 2012,
replacing Prasad Gollakota. Prior to that, Eriksson had been
working in the bank's FIG investment banking business.
(Additional reporting by Aimee Donnellan; editing by Philip
Wright, Alex Chambers)