UBS names joint global heads for i-banking unit

UBS AG, Switzerland’s biggest bank, named Matthew Grounds and Simon Warshaw joint global heads of its investment banking division after John Wall retired.

The two will work alongside Jimmy Neissa, who was co-head of the unit with Wall, the Zurich-based bank told employees in an e-mail today. The appointments are effective immediately.

“IBD finished 2010 with strong momentum, and we have high ambitions for growing the profit before tax contributions from the business,” Carsten Kengeter, chief executive officer of the investment bank, said in the e-mail. A UBS spokesman confirmed the contents of the document and declined to comment further.