Jan. 16 (Bloomberg) -- UBS AG, Switzerland’s biggest bank, named Chris Niehaus, head of its investment banking operations in the Middle East, chief operating officer of the investment banking department in Europe, Middle East and Africa.
Niehaus, who will be based in London, replaces Andrew Schaeffer, according to an internal memo obtained by Bloomberg News. He will also become head of the Business Office, responsible for strategy and staffing in Europe. He replaces Michelle Bereaux in that role, the bank said. A UBS spokesman confirmed the appointment.
Niehaus was hired to run UBS’s investment banking business in the Middle East and North Africa from Dubai in April 2010. He will continue to work with some clients that region. Tony Iliya, head of UBS’s operations in the Middle East, will assume Niehaus’s responsibilities in the region, the lender said.
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