It’s official: Kenneth D. Moelis, the president of UBS‘ investment bank, is leaving. DealBook obtained a copy of an internal memo by Huw Jenkins, the chairman and chief executive of UBS’ investment bank, and Peter A. Wuffli, the president of the firm’s Group Executive Board, announcing the veteran investment banker’s departure.
A spokeswoman for UBS confirmed the contents of the memo. Read it after the jump.
After six highly successful years with the firm, Ken Moelis has decided to leave UBS to pursue other opportunities.
Ken joined the firm in 2001 as Head of Investment Banking for the Americas and was promoted to Joint Global Head of IBD in 2004. During this time, Ken was the architect of our successful IBD build-out in the US, attracting high quality talent to the firm and positioning UBS to be a trusted adviser to some of the largest corporates and financial sponsors globally. Under his leadership, the team and our client franchise reached critical mass in the US, making significant revenue and market share gains across all industry sectors and regions. By the end of 2006, UBS was ranked Top 4 in the global fee pool for the first time.
In 2005, Ken became President of the Investment Bank. In this position, he played a major role in driving our client-focused growth agenda across all IB business areas, and has been instrumental in positioning our firm to better meet the needs of our Financial Sponsor and Hedge Fund clients. He has been passionate about recruitment and development, and has helped us create a bench of world-class talent.
On behalf of the firm, we would like to express our sincere thanks to Ken for his significant contributions and wish him every success with his new endeavors. His legacy is the high quality and motivated team of professionals who will continue to take our firm to new levels in the future.
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