The guard is officially changing at one of Europe’s biggest investment banks. Ros L’Esperance, the Executive Vice Chair of UBS’s Investment Bank and one of the most influential women in U.S. finance, is stepping down at the end of the month to pursue outside opportunities.
👩💼 THE LEGACY & THE RESUME:
- The Wall Street Pedigree: L’Esperance is a true Wall Street veteran. Before joining UBS in 2014, she served as head of global corporate finance at Lehman Brothers and navigated the historic 2008 financial crisis by transitioning to Barclays following its acquisition of Lehman’s North American business.
- The UBS Impact: She played a massive role in building UBS’s global banking franchise into what it is today. Recently named one of Barron’s “100 Most Influential Women in U.S. Finance,” she is highly regarded for her mentorship and dealmaking prowess.
🔄 THE LEADERSHIP TRANSITION:
- The Stepping Stone: The writing has been on the wall since 2023, when Marco Valla joined UBS from Barclays to take over as head of global banking. At that time, L’Esperance stepped back from her co-head role to focus on overarching strategy and to build a new advisory group for the firm’s most senior client-facing bankers.
💡 THE BOTTOM LINE: L’Esperance’s departure marks the end of an era for UBS’s investment banking division. As major global banks continue to restructure their leadership teams and navigate a complex M&A environment, losing a senior rainmaker and strategist of her caliber is a significant shift. The big question now is where a powerhouse like L’Esperance will deploy her capital and network next—will she pivot to private equity, launch a boutique advisory, or take a board seat?
👇 Investment Banking & M&A Professionals: As veteran dealmakers leave the bulge bracket banks, are we going to see a continued surge of top-tier talent migrating to elite boutique advisory firms and private credit?