UBS shakes up investment banking again

UBS names Alex Wilmot-Sitwell and Carsten Kengeter as co-heads of its investment bank, replacing Jerker Johansson who has resigned after one year in the role.

UBS has appointed Alex Wilmot-Sitwell and Carsten Kengeter as co-chief executive officers of its investment bank. In its choice of new leaders, UBS is trying to achieve a balance between a veteran, well-known across the firm, and someone relatively new, as well as between the investment banking and trading sides of the business, while also reaffirming its commitment to staying in investment banking, say specialists.

The pair replaces Jerker Johansson who has resigned after one year in the...

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