UBS snags Groothaert in Luxembourg Financial Group acquisition
UBS's €25 million acquisition of Luxembourg Financial Group signals its intent to keep increasing the size of its presence in the world of structured products
Swiss bank UBS has bolstered its structured products operations in Europe with the €25 million acquisition of Luxembourg Financial Group (LFG), a London-based structured products boutique. The purchase, which is scheduled to close in the second quarter of 2011, brings with it Johan Groothaert, chief executive of LFG and formerly head of structured products at Deutsche Bank in London.
The LFG personnel will become part of UBS's global equities division, reuniting Groothaert with Yassine Bouhara
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