Australia: Barrenjoey launch spells further bad news for UBS

New Barclays-backed venture staffed by veterans of the Swiss firm.

Regular readers will recall the fun to be had in Australia working out the intentions of ex-UBS leaders Matthew Grounds and Guy Fowler, plus fund manager Magellan and Barclays.

Now we have our answer: Barrenjoey Capital Partners, whose foundation was confirmed in late September.

Actually, Grounds is not yet involved; he’s expected to join next year, but pretty much everyone else from UBS seems to be.

Matthew Grounds is not yet involved, but pretty much everyone else from UBS seems to be

Matthew-Grounds-UBS-160x186

Fowler is executive chairman and, for now, the front man of the venture; others to have joined from the Swiss house include ex-equities head Chris Williams, Jarrod Key, Darren Tan, Barry Sharkey, Peter Nelson, George Kanaan, Chad Mikhael, Stuart Brownrigg, Tim Aurel-Smith, James Ledgerwood and David Pender.

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