Aug. 21 (Bloomberg) -- UBS AG, Switzerland’s biggest bank, hired Laurence Grafstein from Rothschild to help run its mergers-and-acquisitions business in the Americas.
Grafstein, 51, plans to join UBS in New York as co-head of M&A in the Americas, the Zurich-based firm said today in an internal memo obtained by Bloomberg News. He was an executive vice chairman at Rothschild, the largest family-owned investment bank, where he has worked since 2009.
Grafstein advised on transactions exceeding $600 billion in total value during a career that has spanned more than 20 years, Stephen Cummings, UBS’s chairman of investment banking for the Americas, said in the memo. He spent much of that time advising telecommunications companies such as Sprint Nextel Corp. and Comverse Technology Inc.
In 2009, Grafstein was among a group of investors that bought the New Republic magazine. They put the century-old political publication up for sale this year, and Facebook Inc. co-founder Chris Hughes, 28, bought a majority stake in March.
Grafstein previously was head of technology, media and telecommunications at Lazard Ltd. and head of telecommunications at Credit Suisse Group AG, said Cummings, 57.
In addition to advising companies, Grafstein counseled governments in the privatizations of Telefonos de Mexico SAB and Telstra Corp., and worked on Canada’s investments in General Motors Co. and Chrysler Group LLC, Cummings said.
At UBS, Grafstein will work alongside co-head Marc-Anthony Hourihan and report to Cummings.
UBS is the 14th-biggest adviser on mergers and acquisitions in the Americas this year, according to data compiled by Bloomberg, and Rothschild ranks 12th.
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