UBS Hires Voorheis to Lead Americas Specialty Finance

(Corrects to say that Benett continued in his role as head of specialty finance in sixth paragraph of story dated May 2.)

UBS AG (UBSN), Switzerland’s biggest bank, named Jim Voorheis as head of Americas specialty finance, succeeding Halle Benett, who resigned in March.

Voorheis, who will join the company in July, will also be a managing director in the financial institutions group, according to an internal memo confirmed by the bank. He will be based in New York and report to Greg Kennedy, head of the Americas financial institutions group.

Voorheis is the first of several hires Kennedy said he expects to recruit for the group, which focuses on banks, insurance companies, asset managers and specialty finance firms.

“Jim is exactly the kind of hire we want to make to build out our” team, Kennedy said today in an interview.

Voorheis a former managing director at both Deutsche Bank AG and Citigroup Inc., according to the memo. He started his career as a financial analyst at Salomon Brothers in 1990.

Benett left UBS to join one of its clients, according to Megan Stinson, a spokeswoman for the Zurich-based bank. Last year, UBS announced that Kennedy would become head of the Americas financial institutions group in March, replacing Benett, who continued in his role as head of specialty finance.

Benett has joined Ares Management LLC as a senior adviser, according to Bill Mendel, a spokesman. Benett will work with the firm’s capital markets, private debt, private-equity and real estate groups, he said.

To contact the reporter on this story: Matthew Monks in New York at mmonks1@bloomberg.net

To contact the editor responsible for this story: Jeffrey McCracken at jmccracken3@bloomberg.net

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