March 6 UBS AG has hired Doug Simons and Tannon Krumpelman as managing directors as part of the bank's efforts to expand its financial institutions group.
Simons is a Wall Street veteran of more than 20 years who specializes in commercial banks and depository institutions, UBS said on Thursday.
He joins UBS from Credit Suisse. Prior to Credit Suisse, Simons worked at Morgan Stanley and Citigroup.
Simons has worked on deals such as Capital One Financial Corp's acquisition of Chevy Chase Bank and BB&T Corp's purchase of Colonial Bank.
Krumpelman will join UBS after nine years at Goldman Sachs Group Inc, where he built Goldman's domestic mid-cap depository investment banking franchise, UBS said.
He has advised on transactions for clients such as Bankia SA , BankUnited Inc, Everbank Financial Corp and Suntrust Banks Inc, UBS said.