March 4, 2015 / 11:24 PM / 3 years ago

UBS poaches executives from Evercore for its U.S. unit: WSJ

(Reuters) - UBS Group AG UBSG.VX has hired a team of three executives for its U.S. consumer and retail investment banking unit from boutique investment bank Evercore Partners Inc (EVR.N), the Wall Street Journal reported citing an internal memo it saw.

The logo of Swiss bank UBS is seen at the company's headquarters in Zurich February 10, 2015. REUTERS/Arnd Wiegmann

Brett Pickett, Lowell Strug, and Peter Kuhn are set to join the UBS unit, according to the internal memo from Ros Stephenson, head of the bank's Americas advisory unit, the WSJ said. (on.wsj.com/1wIzqPQ)

Pickett and Strug were the co-heads of Evercore’s consumer retail group while Kuhn was a managing director with the bank, the paper reported.

Apart from the Evercore executives, UBS has hired Sumner Farren and Sara Coyle from Bank of America Merrill Lynch and David Descoteaux from Lazard, the paper reported.

Descoteaux will join the bank’s M&A team as managing director, Coyle will join the UBS global industrials group as executive director and Farren will look after financial sponsors and corporate clients, the WSJ said.

All new appointments, which were confirmed by UBS, will be based in New York - with the exception of Farren - who will be based in Chicago.

Evercore could not be immediately reached for comment outside regular business hours.

Reporting by Ankush Sharma in Bengaluru; editing by Andrew Hay, Bernard Orr

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