LONDON, May 15 (IFR) - Severin Brizay has resigned from UBS to join Bank of America Merrill Lynch as head of consumer and retail investment banking for EMEA after developing the Swiss bank’s mergers and acquisitions business in Europe, the Middle East and Africa for the last four years.
Brizay was brought in by Andrea Orcel soon after he became president of UBS’s investment bank in late 2012 and made sweeping changes to focus it on more capital-efficient businesses such as M&A advisory, rather than fixed income trading.
Brizay joined UBS from JP Morgan and recruited a number of senior advisers. One was Laurent Dhome, a managing director for financial sponsors, who is also moving to BAML with Brizay. Both start in August.
UBS is not expected to replace Brizay immediately. The firm has an experienced global head of M&A with EMEA experience in Piero Novelli, who reports to Orcel. Last November Novelli was appointed co-executive chairman of global corporate client solutions, alongside Mike Santini.
At BAML Brizay will report to Luigi Rizzo, head of EMEA investment banking, and Lisa Clyde, head of global consumer and retail investment banking. He replaces Jayanti Bajpai, who had filled the role on an interim basis. He remains vice chairman of EMEA corporate and investment banking.
Dhome will report to Saba Nazar, co-head of global financial sponsors.
BAML confirmed the appointments. UBS declined to comment. (Reporting by Christopher Spink)