Four months after his high-level departure from JPMorgan, Trevor Loewensohn has signed with UBS Australia as vice chairman of investment banking. With his coveted list of contacts, Loewensohn was courted by nearly every shop in the country but eventually settled on a part-time arrangement with Chris Mackay, chief executive officer of UBS Australasia. A clever M&A and corporate finance banker, he will focus on client relationships and investment banking advice for existing and new clients.
Loewensohn resigned from JPMorgan in August stating that he wanted to spend more time with his young family. His partner in crime, Kevin Jacobson, also left the firm. Since then Loewensohn has been consulting with JPMorgan, but bets were being placed on where he would turn up next. His position with UBS begins early next year.
UBS is likely to give Loewensohn the room he lacked at JPMorgan. While he claims to have parted on good terms with the firm, rumours were that he had fallen out with US senior management over client scope and credit flexibility.
"We are delighted that Trevor is joining our team," says Mackay about the hire. "He will fit in well. Many of us, and our clients, have worked with and alongside Trevor for many years and have immense respect for his skills and advice."
Loewensohn says he is pleased to be joining such a successful investment bank. "UBS has established itself as an excellent and reliable partner for a wide range of clients. I am looking forward to working with a bank and management team that has proven its ability to deliver successfully and consistently across the entire product spectrum."