UniCredit has hired a former UBS dealmaker for its investment bank, reuniting its chief executive Andrea Orcel will a key former lieutenant in a unit the Italian bank is looking to grow.
Sam Kendall has joined the Italian lender as head of all industry coverage, advisory, public and private equity and debt capital markets, according to an internal memo seen by Financial News. The wide-ranging role will help “accelerate the growth in these business areas” the memo from UniCredit’s head of corporate and investment banking, Richard Burton, said.
Kendall was one of UBS’s most senior investment bankers, holding numerous senior positions at the Swiss bank during a 20-year career there. He has headed up its equity capital markets unit globally, as well as leading its investment bank in the Americas and Asia-Pacific during his time there. He left in July last year.
Orcel took the helm of UniCredit in April and has wasted little time shaking up the bank, naming new leaders and simplifying its management structure. In July, Burton unveiled a new structure for the corporate and investment bank including naming Goffredo Guizzardi as sole head of its financing and advisory unit.
At the time, Burton hinted there could be further changes within the investment bank, saying it was a “journey not a final destination”.
Orcel’s presence has helped lure across some other former UBS executives including Fiona Melrose, the Swiss bank’s former investment bank strategy chief, who has taken on the same role at UniCredit in May, as well as his former communications advisor Joanna Carss, who is in charge of stakeholder engagement at the Italian lender.
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