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Top UBS Banker Has ‘Very Aggressive Plan for U.S.’

  • Strategy is said to include doubling number of M&A rainmakers
  • Firm will target specific sectors, Orcel says in interview
Andrea Orcel
Andrea OrcelPhotographer: Simon Dawson/Bloomberg

UBS Group AG’s Andrea Orcel is doubling down on a pledge to ramp up the Swiss bank’s presence in Wall Street dealmaking, vowing to recruit marquee bankers.

Orcel, president of the firm’s investment bank, said in an interview that he’s pursuing “a very aggressive plan for the U.S.” -- a region where the firm has sought to hire in recent years while struggling to win more market share handling mergers and acquisitions. The current strategy isn’t to make the business bulkier so much as to assemble leading teams for specific sectors, such as retail, software and aerospace, he said.