UBS AG (UBSN)’s co-head of mergers and acquisitions for the Americas, Lee LeBrun, will retire in May from Switzerland’s largest bank.
LeBrun, 44, is leaving to spend time with his wife and three children, according to Torie von Alt, a spokeswoman for the Zurich-based bank. Cary Kochman assumed sole leadership of the Americas M&A business in July, when LeBrun took a sabbatical. Kochman was named global co-head of M&A last month.
UBS’s investment-banking unit has been going through management changes since 2008 when the company cut its bonus pool by 80 percent because of the financial crisis. In July, Richard Leaman left as chairman of the division to join Moelis & Co., the New York-based investment bank founded by former UBS executive Kenneth Moelis. In 2009, most of UBS’s health-care investment-banking group defected to New York-based Jefferies Group Inc.
In April, UBS hired Stephen Cummings, Wachovia Corp.’s head of corporate and investment banking, as chairman of investment banking in the Americas. Cummings will work with Aryeh Bourkoff, 38, who in March became head of investment banking for the Americas, succeeding Kevin Cox, who was appointed global chairman of the general industries group.
LeBrun joined UBS in 2001 from Donaldson, Lufkin & Jenrette. His deals included advising Smith International Inc. on its $13 billion sale to Schlumberger Ltd. (SLB) last year. He also advised Japan’s Takeda Pharmaceutical Co. on its $8.8 billion acquisition of Millennium Pharmaceuticals Inc. in 2008.
In 2005, he advised Adelphia Communications Corp. on its $17.6 billion takeover by Comcast Corp. and Time Warner Inc. That year, he also advised Gillette Co. on its $57.2 billion acquisition by Procter & Gamble Co. (PG)
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