Investment bank UBS AG said in an email that the head of its Global Financial Sponsors and Leveraged Finance group is stepping down to become an advisor to the company, Reuters reported.
Warren Woo, who was appointed in December 2005, is leaving the division “based purely on personal reasons,” he said in the email. The financial sponsors group is the team within investment banks that arrange financing for private equity, or “sponsor” backed deals, as they are known in the industry.
UBS bankers Steve Conway and Adam Reeder will become joint Global Heads of Financial Sponsors and Leveraged Finance Origination, UBS said in the email and Reuters reported.