UBS

Pierre Paris, head of French investment banking, has recently resigned. UBS has not found a replacement, but has appointed Mark Lewisohn, joint global head of telecoms investment banking, as acting head. He will be based in London and spend two days a week in Paris. The resignation of Paris, who is not thought to have taken a new job, comes after UBS had indicated that it wanted to strengthen its presence in the French market. It follows the recent appointment of Pierre-Antoine Saunier, a managing director in French M&A from Merrill Lynch in France, who will join the team in February 2005. Charles-Henri Le Bret remains deputy head of French investment banking and Dominique Bazy continues as vice-chairman at UBS.

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