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Barclays' M&A managing directors are still leaving for UBS

If there’s anything to know about UBS’ investment bank, it's that it loves bringing in people from Barclays, even while it's cutting from Credit Suisse. 

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UBS's latest Barclays hire is Dmitry Kokhanov, who joined the bank in San Francisco last week. Kokhanov spent less than two years at Barclays, which he joined from Bank of America in 2022. 

UBS hired multiple Barclays bankers last year, including Marco Valla, who joined as co-head of the banking division. For its part, Barclays hired ex-Credit Suisse banker Cathal Deasy as co-head of its investment bank, prompting the exit of Valla and colleagues to Barclays in a move allegedly also driven by a failure to pay promised bonuses for 2022. Kokhanov, by comparison, is presumably leaving after receiving his bonus for 2023. 

Kokhanov's departure from Barclays and arrival at UBS comes after the Swiss bank cut Ryan Lund, the global head of technology banking and John Jansen, the head of technology M&A in January. 

If you’re a Credit Suisse banker, it's probably discouraging that UBS looked outside for a new shiny new technology MD. UBS has already culled around 9,000 of the Credit Suisse herd from its ranks already, and it’s understood that around 40,000 will be departing in total. 

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AUTHORZeno Toulon

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