UBS’s Smith Departs, Said to Be in Talks to Join Aurora Capital

Steven Smith, the head of restructuring at UBS AG’s investment bank, has left the company and is in talks to join private-equity firm Aurora Capital Group, according to people familiar with the matter.

Torie von Alt, a spokeswoman for Zurich-based UBS, confirmed Smith’s departure in an interview. She and a representative for Aurora declined to comment on Smith’s negotiations. The people familiar declined to be identified because the talks with the Los Angeles-based firm are private.