SYDNEY, March 15 (Reuters) – Around 10 Australian UBS employees, including chief banking analyst Jonathan Mott and chief mining analyst Glyn Lawcock, have retired from the multi- long positions. their decade at a Swiss investment bank, two sources familiar with the matter said. .
Both Mott and Lawcock, are hired by Barrenjoey Capital Partners, a start-up company that is partly owned by Barclays Plc and Magellan Financial Group, according to the Australian Financial Review, which first reported the trends.
Mott, who has been working as a banking analyst for UBS since 2002 according to his LinkedIn website, did not return Reuters messages seeking comment. Lawcock, a UBS veteran of about 20 years and one of only three analysts of mining companies rated 5 out of 5 stars on Refinitiv Eikon.
Representatives for Barrenjoey and UBS in Asia Pacific did not immediately return a request for comment. The sources declined to comment due to the sensitive nature of the situation.
Employees left on Monday after paying off deferred cash bonuses made last week, one of the sources familiar with the situation told Reuters.
Most of the departures were in the research department and will go with Barrenjoey, the man said. Someone in the business of equality also retired.
UBS, which has around 650 employees in Australia and New Zealand, including around 90 in non-research allowances, and around 130 in corporate finance, will try to take the jobs back or filled in, the second source said.
With funding from both Barclays and Magellan, Barrenjoey was founded last year by a number of UBS employees including Matt Hanning, former head of UBS Asia Pacific investment banking and Guy Fowler, formerly this drives corporate finance and equity capital markets in Australia.
Its establishment has shaken up the already competitive local investment banking outlook, as it has competed with a number of high-profile employees, including JPMorgan and UBS.
Additional statement by Sonali Paul in Melbourne; Edited by Jacqueline Wong