UBS’ secondary advisory team is looking for someone to lead its efforts in Europe, the Middle East and Africa.
Rodney Reid, the bank’s former head of the region, has decided to leave and join the secondary advisory team at Evercore Partners. UBS has lost several secondary market professionals after its former secondary advisory head, Nigel Dawn, left and started a rival group at Evercore.
UBS had promoted Reid to lead EMEA last year to replace Nicholas Lanel, who also left the bank to join Dawn at Evercore. Other former UBS executives who left for Evercore include Sameer Shamsi, Francesca Paveri, Jasmine Hunet and Dale Addeo.
UBS, however, is moving forward from the departures. The bank already is looking to replace Reid, Philip Tsai, UBS global head of secondaries, told peHUB Thursday. “We continue to replenish the troops,” he said.
The bank’s secondary advisory squad, which recently helped the Massachusetts Mutual Life Insurance Co sell an about $250 million portfolio of private equity stakes, has 16 people. Recent hires include Alec Brown, a former vice president at Seven Mile Capital, who joined the team in June as an associate director, and Anand Sethia, who joined in May as an analyst from Altius Associates.
Tsai’s team also welcomed Skip Fahrholz, an M&A banker as UBS, as a director.
Last year, UBS hired Lauren Edgerton, formerly of Paul Capital, as an associate director, and Dirk Jonske, formerly of Landmark Partners, also as an associate director.
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