* Gary Head to become new global chief of cash equities
* Vanderzeil, Fowler take on Australasia chairman roles
* Promotions aimed at keeping top Australasia bankers
(Adds details of more Australasia appointments)
HONG KONG, May 27 UBS AG named Gary
Head as its new global chief of cash equities, promoting the
Australia-based banker and triggering a reshuffle of the Swiss
bank's management in that country, according to a series of
internal memos obtained by Reuters on Tuesday.
A UBS spokesman confirmed the contents of the memos.
Head will relocate to London and be replaced in Australia by
Chris Williams and Steve Boxall as co-heads of Australasian
equities, according to one of the memos.
Head's moves triggered a series of other changes to the
Swiss bank's management structure in Australasia, according to
the internal announcements.
Robbie Vanderzeil will become chairman of capital markets in
Australasia for the bank, while Guy Fowler will be chairman of
its corporate client solutions (CCS) division in the region, the
Anthony Sweetman will be head of CCS Australasia, with Greg
Peirce and Kelvin Barry becoming joint heads of coverage and
advisory for Australasia, reporting to Sweetman.
The announcements follow Monday's news that Matt Hanning
will take over UBS's top investment banking job in the
Asia-Pacific region from Matthew Grounds, who will remain as the
bank's chief executive for Australasia.
The proliferation of senior investment banking roles for UBS
in Australasia reflects the firm's strength in the region in
recent years. The business led by Grounds has since 2008 ranked
consistently among the top firms in Australia for corporate
finance and mergers advisory.
Grounds was instrumental in negotiating a unique bonus
protection deal for UBS's top Australia investment banking team,
although he himself did not participate, Reuters reported in
That was designed to induce UBS's high-flying team to stay
at the bank, as rivals aspiring to build similarly succesful
Australian businesses sought to lure the bankers away with
attractive pay offers.
(Reporting By Lawrence White; Editing by Matt Driskill)