UBS man sets up shop
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.