|
The
two became co-leaders of the UBS business in September 2018,
when star investment banker Andrea Orcel left UBS.
Karofsky joined UBS in 2014 after stints at Morgan Stanley,
Deutsche Bank and AllianceBernstein. He led the global equities
business before joining Novelli atop the investment bank.
Novelli primarily focused on corporate client solutions, while
Karofsky headed investor client services and oversaw the
investment bank’s digital transformation.
"Under their leadership, the investment bank achieved its best
fourth-quarter and full-year results since 2012, finishing 2020
with an exceptional return on attributed equity of nearly
20%," UBS said in a statement.
"I want to personally thank Piero for his contributions to
reshaping our investment bank and successfully co-leading the
business, employees and our clients through the pandemic," CEO
Ralph Hamers said.
"Our world-class investment bank is critical to the success of
our group strategy and I am confident Rob is the right leader to
help us achieve our strategic ambitions."
Euronext, which aims to close its 4.3 billion euro ($5.22
billion) acquisition of Borsa Italiana from the London Stock
Exchange in the first half of 2021, reported
higher-than-expected annual revenue this month.
Growing income from listings, trading and clearing activities
after some acquisitions helped boost the company's annual
numbers.
Data published this month also showed that Euronext's Amsterdam
hub had displaced London as Europe's biggest share trading
centre after Britain left the EU's single market following the
Brexit deal.
(Reporting by Michael Shields and Sarah White; editing by Riham
Alkousaa and Jason Neely)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
