Funds News

MOVES-UBS bulks up power investment banking leadership team

July 22 (Reuters) - UBS AG, the Swiss bank, has hired a new sector head to grow its America’s power investment banking practice, according to an internal memo obtained by Reuters.

Craig Edgar will be a managing director and sector head of power in the New York office of the Swiss Bank. David Whitcher will also be joining UBS as managing director.

Alongside Russ Robertson, a managing director at UBS, the trio will form the power group’s leadership team with Edgar in charge.

UBS’s power investment banking practice serves clients such as alternative energy providers, independent power producers and electric and gas utilities in the United States and internationally.

Since 2001 Edgar worked with the global power & utilities investment banking group at Morgan Stanley. His clients included large-cap electric and gas utilities in the U.S. and around the globe.

Whitcher and Edgar have worked together at Morgan Stanley since Edgar joined the New York-based investment bank in 2005. Whitcher has relationships with major regulated utilities companies, transmission companies, merchant generators, waste companies, private equity investors, and infrastructure funds.

The contents of the memo were confirmed by a UBS representative. (Reporting by Mike Stone. Editing by Andre Grenon)