UBS AG, the Swiss bank, has hired a new sector head to grow its America's power investment banking practice, according to an internal memo obtained by Reuters. Craig Edgar will be a managing director and sector head of power in the New York office of the Swiss Bank. David Whitcher will also be joining UBS as managing director.Alongside Russ Robertson, a managing director at UBS, the trio will form the power group's leadership team with Edgar in charge.UBS's power investment banking practice serves clients such as alternative energy providers, independent power producers and electric and gas utilities in the United States and internationally.Since 2001 Edgar worked with the global power & utilities investment banking group at Morgan Stanley. His clients included large-cap electric and gas utilities in the U.S. and around the globe.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.11% or $0.36/share to $32.91. In the past year, the shares have traded as low as $25.25 and as high as $33.52. On average, 9781560 shares of MS exchange hands on a given day and today's volume is recorded at 8645661.
UBS AG is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis. Shares of UBS fell by 0.71% or $-0.13/share to $18.17. In the past year, the shares have traded as low as $17.93 and as high as $21.61. On average, 1840330 shares of UBS exchange hands on a given day and today's volume is recorded at 1997599.
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