UBS has made a big hire in the US.
Bob Foresman will join the company as vice chairman of UBS Investment Bank on October 3, according to a memo seen by Business Insider. A spokeswoman confirmed the contents of the memo.
He will report directly to Andrea Orcel, president of the investment bank, and will be based in New York.
"He will bring his extensive relationships, political and geopolitical understanding and strategic experience, to add additional weight to, and strengthen, our client offering," Orcel wrote in the memo.
UBS said on Tuesday that it has hired Stephen Cummings as the chairman of its Americas investment banking unit.
John Utendahl, who was most recently a vice chairman at Deutsche Bank, will join in October as an executive vice chairman of global and investment banking.
Bank of America hired a prominent health-care banker to be vice chairman of its healthcare investment banking division, according to an internal memo today.
UBS has hired Jerry Marcus, a former head of Bank of America Merrill Lynch's retail investment banking group, as a vice chairman for its Americas investment bank, the Swiss firm said on Thursday.