(Bloomberg) -- UBS Group AG’s head of mergers and acquisitions for Europe, the Middle East and Africa, Severin Brizay, is planning to leave to join Bank of America Corp., according to people familiar with the matter.
Brizay will become head of consumer and retail investment banking for EMEA at the U.S. lender, the people said, asking not to be identified as the information is private. Laurent Dhome, the Swiss lender’s managing director for financial sponsors in Europe, is also departing for Bank of America to advise private equity clients, they said.
Both of them will join in August and be based in London, the people said. Jayanti Bajpai, who oversaw EMEA consumer and retail investment banking on an interim basis, will focus on his ongoing role as vice chairman of corporate and investment banking in the region. Brizay spent 14 years working on deals at JPMorgan Chase & Co. from London and Paris before joining UBS in 2014, where he made several senior hires.
A spokeswoman for Bank of America confirmed the appointments. A representative for UBS declined to comment.
UBS’s tilt toward wealth management is leaving the investment bank with an increasingly smaller share of revenue as it hones in on the needs of rich clients. Investment bank chief Andrea Orcel and key lieutenants are increasing pressure on top financiers to boost returns, people familiar with the matter said in April.
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