UBS has promoted Michael Lamm to lead dealmaking within its asset management division, according to an internal memo seen by Financial News. Lamm, who previously served as head of strategic investments and M&A for the asset management unit, will now oversee all transaction-related activities, including mergers, acquisitions, and partnership deals.
New Role and Responsibilities
In his expanded role, Lamm will report directly to Suni Harford, president of UBS Asset Management. He will be responsible for driving the division's growth strategy through both organic and inorganic initiatives. The promotion underscores UBS's commitment to strengthening its asset management business, which manages over $1 trillion in assets.
Background and Experience
Lamm joined UBS in 2019 from Credit Suisse, where he held senior roles in corporate development and M&A. He has extensive experience in financial services dealmaking, having advised on numerous transactions across asset management, wealth management, and investment banking. His appointment comes as UBS seeks to expand its alternative investments and private markets capabilities.
Strategic Implications
Industry observers view the promotion as a signal that UBS intends to be more active in asset management M&A. The bank has been focusing on building scale in areas such as private credit, real estate, and infrastructure. Lamm's expertise is expected to help identify and execute strategic acquisitions that complement UBS's existing offerings.
The move also aligns with broader trends in the asset management industry, where firms are increasingly turning to M&A to gain competitive advantages in a low-fee environment. By consolidating dealmaking under Lamm, UBS aims to streamline its approach and accelerate growth.
UBS declined to comment further on the promotion.
