As news rippled through the market about the pending departure of one of the nation's top deal makers, many are asking will UBS lose its mojo when boss Matthew Grounds, and his right-hand man Guy Fowler leave?
Some say simply the pair dubbed by a rival "The A-Team" saw the writing on the wall, and with the Swiss parent struggling globally, there is only so long the local franchise can outperform.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
