UBS Unites Cap. Intro. Business Consulting Services

Mar 18 2014 | 12:49pm ET

UBS has merged two of its hedge-fund services businesses, uniting capital introduction and business consulting under one umbrella.

The new capital and consulting services unit is part of the Swiss bank’s prime brokerage business. It will be led by London-based Mike Sales, who had been both global head of UBS’s business consulting services and regional head of capital introduction. He will report to global head of prime brokerage Reinhardt Olsen and co-head of global financing services in Europe, the Middle East and Africa Richard Heyes.

“The combination will enable us to offer a more strategic agenda for our hedge fund clients,” Olsen said in an internal memo.

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