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UBS bolsters US tech team with two investment banking hires

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UBS Group AG is adding tech bankers ahead of what promises to be a busy year for initial public offerings and technology banking transactions.

[SAN FRANCISCO] UBS Group AG is adding tech bankers ahead of what promises to be a busy year for initial public offerings and technology banking transactions.

The Zurich-based bank hired Bob Casey and Robert Jackman to join its US technology investment banking team, according to a memo sent by Jason Auerbach, UBS's head of technology banking for the Americas. They are joining as managing directors. A UBS spokeswoman confirmed the contents of the memo, which was reviewed by Bloomberg.

"Bob and Robert's leadership will continue to advance our position in the marketplace and present new opportunities for our team's growth," Mr Auerbach said in the memo. "Our focus on software and internet has led our team to become one of the go-to banks in these sectors across all products."

UBS has tripled its tech investment banking revenues since 2016, Mr Auerbach said, by focusing on servicing growth-oriented software, internet and information technology-services companies.

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Mr Casey joins UBS from SunTrust Robinson Humphrey, a division of SunTrust Banks Inc, where he was head of software and systems investment banking.

Mr Jackman was most recently a principal with asset manager Outvest Capital. Prior to that he ran OoVoo, a video chat app designed for teenagers. He was co-head of technology M&A at Jefferies Financial Group Inc and an attorney with Sullivan & Cromwell LLP earlier in his career.

UBS will continue focusing on mergers and IPOs for tech businesses with the additional headcount, Mr Auerbach said. UBS advised plagiarism-catching software provider Turnitin on its sale this month to Advance Publications Inc. The firm is also an adviser on ride-hailing company Lyft Inc's IPO.

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