Finance

UBS puts Bouvier at helm of new ESG banking unit

UBS has created a new ESG advisory team, promoting a senior dealmaker to lead the unit as investment banks increasingly shake-up their ranks to capitalise on an expected wave of deals in the sector.

Laurent Bouvier has been named global head of environmental, social and governance advisory, according to a memo seen by Financial News. His appointment reflects the Swiss bank’s ambition to “produce incremental revenue across our client base by applying an ESG lens to business selection, client coverage, pitching and execution”, the memo said.

READ UBS shakes up core banking unit as Carnegie-Brown steps back

Large investment banks have increasingly been looking to the growing trend of companies overhauling their business models in line with clean energy transition as a way to bolster fees across sectors. Deutsche Bank, Citigroup, Goldman Sachs and JPMorgan are among the firms to create dedicated teams of advisors focused on ESG issues over the past year.

Bouvier is currently co-head of UBS’s global industrials group. He will be replaced in the role by Philippe Chryssicopoulos, who will lead the unit alongside Charles Otton.

Bouvier, who has worked at UBS since 2015, will also become chairman of the global industrials group at the Swiss bank.

READ Dial down ESG ‘propaganda’ or risk lawsuits

Armin Peter, its current head of debt capital markets syndicate, who took on additional responsibility as head of sustainable banking in Europe in June last year, and Samantha Sutcliffe, who was hired by the bank as head of green and sustainable finance in 2019, will also join the new team.

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To contact the author of this story with feedback or news, email Paul Clarke

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