Leadership Change at UBS’s Global Lending Unit
Remi Mennesson, Head of the Global Lending Unit, has decided to leave the bank. This emerges from an internal memo sent to employees by Yves-Alain Sommerhalder, Head GWM Solutions, which was seen by finews.
Mennesson joined UBS from Credit Suisse (CS) in 2020. The Global Lending Unit consists of investment bankers and private bankers and serves as an interface between the divisions, primarily addressing the financing needs of wealthy UBS clients.
Ensuring Continuity
Jean-Marc Botteri has been appointed as interim successor, the memo states. Over the coming weeks, the leadership transition is intended to proceed smoothly and ensure seamless business continuity.
Botteri also moved from Credit Suisse to UBS’s Global Financing Team, albeit in 2021 — around one year later than Mennesson.
Decades of Experience
According to the memo, Mennesson brought decades of experience in structured lending and derivatives as a recognized industry leader. His international background in investment banking and wealth management has, over the past five years, made a significant contribution to building and strengthening UBS’s financing offering. This has given the bank a «unique position in the lending business.»
He also played a key role in the successful integration of Credit Suisse’s financing business. Mennesson built and developed a high-performing team, thereby laying a solid foundation for future growth.
Sommerhalder announced that he will inform employees about the future structure and strategy of the lending business at an upcoming town hall meeting.