UBS man sets up shop

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Lorenzo Weisman

Before the break-up of the USSR, a tale was often told of two old men sitting on a bench in front of the Winter Palace in Russia's second city. "Where were you born?" asks the first, "St. Petersburg," the second replies. "Where did you grow up?" "Petrograd." "Where do you live now?" "Leningrad." "Where would you like to live?" "St Petersburg."
Lorenzo Weisman, the outgoing head of Latin American corporate finance at UBS Warburg, is in a similar position. For someone who has spent his whole career without switching banks, he's certainly worked for a lot of different houses: Dillon Read, SBC Warburg Dillon Read, Warburg Dillon Read, and now UBS Warburg. He calls it a "progression from a small firm with strong client origination to one of the largest firms in the world".
And where he wants to go now is back to something much closer to the Dillon Read of old: 28 years after joining Dillon Read straight out of Columbia Business School, Weisman is leaving to set up his own shop, which will focus on a manageable number of high-profile, high-value-added client relationships. "What I enjoy the most is being close to clients," he says.
With the departure of Weisman, UBS Warburg is reorganizing the Latin America corporate finance group. Chile and Argentina are being covered out of New York, and the general emphasis is now going to be more on covering sectors and less on covering countries or regions. Weisman won't really be replaced: there will be someone looking after the corporate finance people, but he will have a more administrative role.

Although Weisman hopes to continue to be active in Latin America, he is now looking to go truly global, advising companies based anywhere in the world on their activities anywhere else. At 56, Weisman feels the time is right to set up a shop on his own. "I feel no different from my 30s in terms of energy," he says. "It's become a very young culture in investment banking everywhere," he adds. "Clients appreciate people who have been around longer."

Bank deleveraging has barely started

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

UBS man sets up shop

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