Investment bank UBS has hired Macquarie Capital banker Andrew Scade to lead its Australia and New Zealand real estate investment banking team, with Victoria Hardie.
Mr Scade, a managing director, has worked as a division director at Macquarie Capital since 2004. Before then, he worked for Grant Thornton in Britain.
His appointment follows the departure of former UBS real estate investment banking head for Australia and New Zealand Tim Church, who has taken on the role of chairman of Morgan Stanley for Australia and New Zealand after 11 years at the Swiss financial.
Other UBS real estate bankers to recently depart the Australia office include Mitch Schauer, who now heads real estate for Jarden, Ben Roberts and also Sam Bates, who will work with Mr Church at Morgan Stanley.
Other bankers are set to be hired by UBS imminently, including those at Macquarie, say sources.
Plenty of money is once again being spent on the investment banking scene to attract top talent.
Barrenjoey Capital Partners has recently hired UBS infrastructure banking team members including the division head Jarrod Key and capital markets banker Barry Sharkey as well as the most successful block trader in the Australian market George Kanaan and his team members.
Credit Suisse has named Rahul Bharara has its head of real estate investment banking in Australia, following the promotion of Angelo Scasserra to co-head of investment banking with James Disney.
New Zealand-based Jarden is said to have outlaid more than $US10m hiring UBS global chairman of capital markets Robbie Vanderzeil, former Goldman Sachs equity markets boss for Australia and New Zealand and ex-UBS operative Sarah Rennie, former UBS equities syndicator John Spencer and ex-UBS Australian equity capital markets boss Dane Fitzgibbon, along with UBS managing director Aidan Allen.
JPMorgan has also this year hired well-regarded banker Duncan Mann from Credit Suisse to head its financial sponsors and co-head its Australian industrial coverage.
Ms Hardie, meanwhile, takes on the role heading real estate after working as an executive director in the team.
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