UBS shuffles bank bosses in bid to better compete with Wall Street

LONDON/NEW YORK -UBS on Monday announced an overhaul of its investment banking division, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse. UBS CEO Sergio Ermotti is seizing on the opportunity presented by the rescue takeover of Credit Suisse in March to reorganize its investment bank to better compete against Wall Street firms. UBS is hiring top bankers from competitors as well as promoting staff from within its ranks and Credit Suisse as part of the shake-up, which will also lead to hundreds leaving. As a result of the investment bank overhaul, Credit Suisse's David Kostel will become global co-head of coverage, while Tom Churton, ...Keep on reading: UBS shuffles bank bosses in bid to better compete with Wall Street

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