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UBS Reverses the Exodus, At Least For Now

May 26, 2011

Two more investment bankers from Morgan Stanley defected to UBS AG.  Jane Dabney and Steven Escaler have joined up with former boss, Thomas Langford, who defected from Morgan Stanley just last week.  All 3 will work in the UBS energy group in Houston - with Mr. Langford serving as global head of energy investment banking, and Ms. Dabney as the chief operating officer for the group.  Mr. Langford had been an energy consultant with McKinsey & Company and a production engineer at Exxon Mobil before joining Morgan Stanley.

For UBS, Wednesday's personnel moves breaks a streak - the firm had been losing bankers left and right - all reportedly due to bitterness between the banking chief and his team of bankers.  [NYT Dealbook, 5/25/11]