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Tuesday, February 12, 2013

UBS financial services co-head De Vitry to leave-sources, (NASDAQ: FISI)

The co-head of UBS's financial institutions group (FIG) in Europe, Edouard de Vitry, is leaving the bank in the latest high level restructuring in its investment bank division, three people with knowledge of the situation said on Tuesday.Javier Oficialdegui, the other co-head of the financial institutions business, who was brought in by UBS's new head of investment banking Andrea Orcel, will be sole head of the advisory team after De Vitry's departure, one of the people said.UBS declined to comment.De Vitry, who advised ABN Amro ahead of its acquisition by a Royal Bank of Scotland -led consortium in 2007, has led UBS's FIG team in Europe, Middle East and Africa (EMEA) since 2008. It is not known where de Vitry will go next.

Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI traded higher by 1.52% or $0.3/share to $20.08. In the past year, the shares have traded as low as $15.22 and as high as $20.83. On average, 20623 shares of FISI exchange hands on a given day and today's volume is recorded at 1491.