The banker, whose been focusing on advising clients in the media and telecommunications sector, was named global co-head of investment banking at UBS in 2011.
While rival Morgan Stanley has been building up its brokerage unit - sometimes painfully - to reduce its reliance on areas like trading, Goldman has been resolutely sticking to its traditional businesses, focusing on advising companies, underwriting and trading securities, and managing assets.
All this freed staff from routine tasks to focus on advising customers.
He has invested in hotels only rarely, he said, preferring to focus on advising hotel companies through his firm, RSBA & Associates.
Morgan Stanley has formed a new team focused on advising banks worldwide on capital and financing issues, according to an internal memorandum obtained by DealBook.
BEN PROTESS FINANCIAL ADVICE TEAM Morgan Stanley has formed a new team focused on advising banks worldwide on capital and financing issues, according to an internal memorandum.
Another member of the club is the much younger Sandler O'Neill, founded in 1988, which focuses on advising and raising capital for other financial firms.
Omar Jaffrey, who spent nine years as a managing director at UBS, will focus on advising technology and media clients at TAP.
From that perch, the woman once called Queen of the Net for her bullish stock calls during the Internet bubble, says she will focus on advising and finding Internet-related investment opportunities for her new employer.
The company will dismiss 340 people, close offices and dismantle its venture capital and advertising units to focus on advising clients like Ikea, the home furnishings retailer, on how best to integrate electronic commerce into their businesses.
Mr. Obama also made it clear that he planned to leave relatively few troops in Afghanistan after the NATO combat mission ends in 2014, saying those forces would be narrowly focused on advising and training Afghan troops and hunting down the remnants of Al Qaeda.
