UBS snags Groothaert in Luxembourg Financial Group acquisition

UBS snags Groothaert in Luxembourg Financial Group acquisition

Johan Groothaert moves to UBS as part of its purchase of Luxembourg Financial Group

Swiss bank UBS has bolstered its structured products operations in Europe with the €25 million acquisition of Luxembourg Financial Group (LFG), a London-based structured products boutique. The purchase, which is scheduled to close in the second quarter of 2011, brings with it Johan Groothaert, chief executive of LFG and formerly head of structured products at Deutsche Bank in London.

The LFG personnel will become part of UBS's global equities division, reuniting Groothaert with Yassine Bouhara

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