UBS appoints heads for global tech, deals teams

(Reuters) – Swiss bank UBS Group AG on Tuesday made senior appointments to its technology, media and telecommunications (TMT) and M&A teams, according to an internal memo seen by Reuters.

UBS said Jason Auerbach, who joined the company from investment bank Jefferies in 2016, will now jointly head its global TMT team.

The bank also appointed Nestor Paz-Galindo, who joined UBS four years ago from JPMorgan , as global co-head of M&A.

Philipp Beck will succeed Paz-Galindo as head of Europe, Middle-East and Africa M&A, while David Descoteaux and Solon Kentas have been appointed co-heads of Americas M&A, UBS said in the memo.

UBS, the world’s largest wealth manager, this month said it generated more income than expected in the first six months and boosted capital during the coronavirus pandemic.

(Reporting by Noor Zainab Hussain in Bengaluru and Pamela Barbaglia in London; Editing by Ramakrishnan M.)