Post acquisition, the Luxembourg Financial Group will form part of UBS’s global equities division, within the investment bank.
The purchase, which is scheduled to close in the second quarter of 2011, brings with it Johan Groothaert, CEO of Luxembourg Financial Group.
The 22 personnel that will make the move from Luxembourg Financial will form Investment Products & Platforms Group, a new group that Groothaert will lead.
UBS co-head of Global Equities Yassine Bouhara said continuing with their ongoing client focused strategy, the acquisition of LFG gives UBS the opportunity to build on what already exists within the bank and expand further.
LFG was founded in 2007 and has offices in Luxembourg and London.
