Vereker will join UBS in June as head of corporate client solutions in Europe. David Soanes, who currently holds that job, plans to remain at UBS, one of the undisclosed source told Bloomberg.
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Vereker, a utilities and natural resources banker, worked with Xstrata Plc (XTA) on its merger with Glencore International Plc announced last year. He joined Lehman Brothers Holdings Inc.’s London unit in 2005 from Morgan Stanley.
The move comes as Andrea Orcel, head of the investment banking, seeks to strengthen UBS’s advisory businesses.
The firm hired Piero Novelli from Nomura in January, naming him chairman of global mergers and acquisitions. The following month, the firm appointed Mark Yallop, a former COO at ICAP Plc, to the new post of UK group country CEO, responsible for operations in Britain.
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