- Today UBS Group AG (NYSE: UBS) announced it created a new global financing team. These are the details.
Today UBS Group AG (NYSE: UBS) announced it created a new global financing team, according to Reuters. This group is going to span across divisions under one group to serve clients in a faster and simpler way.
This new team is going to be headed up by Remi Mennesson — who is joining USB in November 2020. Currently, Mennesson is a managing director at Credit Suisse. And Mennesson worked at Deutsche Bank before that. Mennesson is going to report to the four co-presidents of UBS upon joining.
Initially, the team is going to focus on corporate derivatives and structured solutions — which are developed via the UBS Structured Equity Solutions Group and Special Situations Group.
Why did UBS create this team? The company wants to arrange employees working in global wealth management, investment bank financing, and risk management in one umbrella. Plus UBS also said it will enhance the bank’s financing capabilities across the regions it operates and expand product offerings for meeting the financing needs of their clients.
“It is creating efficiency, so any type of lending, corporate derivatives or structured financing will now go through this one team. It is a global team that is able to really, in an organized way, meet all of our clients’ needs on a local and global level,” said UBS co-president Rob Karofsky.
