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UBS Reorganizes Real Estate/Securitized Products
Singh will step down and be replaced by three bankers.
November 21, 2008
Ramesh Singh, head of real estate and securitized products (RE&S) at UBS, is departing the Swiss bank to spend more time with his family and to subsequently pursue other career opportunities, according to an internal memo.
The firm also announced that its refocused real estate and securitization activities will be headed by managing directors Bill Chandler, Jack McCleary and Jim Reichek, who will report directly to Jerker Johansson, chairman and chief executive of UBS Investment Bank, and Jeff Mayer, the global co-head of the fixed income, currencies and commodities business.
Chandler becomes head of transaction management for the group. In this role, he will be responsible for the portfolio management of several existing securities programs and various other special situations. He will also be responsible for the transactions requiring pre-approval (TRPA) process within RE&S.
Reichek will continue in his role as US head of real estate finance, with responsibility for all commercial loan origination in addition to all trading in CMBS.
McCleary is named head of ABS and MBS trading activities. He will oversee the firm’s client-facing businesses, which will include selective market making in non-agency securities, as well as portfolio analysis and restructuring services. In addition, pass-thru trading will be integrated within the bank’s rates trading desk in Stamford, Conn., reporting to David Sacco.
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