Saturday, 30 April 2016
Last updated 9 hours ago
Jul 10 2014 | 6:08am ET
UBS has poached a JPMorgan Chase banker to boost its financial sponsors effort advising private-equity funds.
John Souza will join the Swiss bank in September, The Wall Street Journal reports, citing an internal memorandum. Souza has been with JPMorgan since it acquired Bear Stearns in 2008; prior to working at Bear, Souza made stops at General Electric Commercial Finance, SG Cowen & Co. and Citigroup.
“Our financial sponsors group represents a significant segment of the global fee pool” and is a “strategic focus area” for UBS, Souza’s new boss, U.S. head of financial sponsors Matthew Stopnik, wrote in the memo.