UBS has hired Jerry Marcus, a former head of Bank of America Merrill Lynch‘s retail investment banking group, as a vice chairman for its Americas investment bank, the Swiss firm said on Thursday.
In an internal memorandum reviewed by DealBook, UBS said that Mr. Marcus would join in September and would focus primarily on bolstering the Swiss bank’s work servicing retailers, though he will also help out in other parts of the bank.
Mr. Marcus was most recently a vice chairman in Bank of America Merrill Lynch’s global investment bank. He began his career at Morgan Stanley in 1979 and has also worked at Bear Stearns.
He is the latest addition to UBS’ investment bank, known at the firm as corporate client solutions. Last month, the firm said that it had hired Ros Stephenson, a senior Barclays deal maker, as the global chairwoman of that group.
Here’s the internal memo from Steve Cummings, the head of UBS’s Americas corporate client solutions business.
To: CCS Americas, CCS MDs globally
From: Steve Cummings, Head of Corporate Client Solutions Americas
Subject: Organizational Announcement: Jerry Marcus to join UBSI am delighted to announce the appointment of Jerry Marcus as a Vice Chairman in CCS Americas. He will join the firm in New York in September. While his primary focus will be on building out our retail coverage within our Consumer Products and Retail Group, he will also work across the platform to leverage his extensive contacts developed over his more than 30 years of experience in the investment banking industry.
Jerry joins us from Bank of America Merrill Lynch where he was most recently Vice Chairman of Global Investment Banking and, prior to that, head of their retail group. He was instrumental in establishing the company’s successful retail sector coverage of corporate and financial sponsor clients. Jerry began his career at Morgan Stanley in 1979. He spent 13 years at the firm, first as an M&A banker before transitioning to corporate finance and, eventually, co-founded their retail group. Jerry held similar roles at Merrill Lynch and Bear Stearns from 1992 to 2004, initiating and strengthening their retail industry relationships.
Alongside our recent new hire announcements on Ros Stephenson and Neil Carragher, Jerry’s appointment is yet another illustration of UBS’s success in attracting excellent talent to complement our already-strong CCS Americas team. These well-respected, experienced bankers believe in our client-centric platform, and will bring their deep understanding of banking and commitment to developing robust relationships to UBS.
Please join me in welcoming Jerry to the firm and wishing him much success in his new role.