Manuel Esteve has been promoted to global co-head of equity capital markets at UBS. He is based in London.
The announcement follows last week’s promotion of Gareth McCartney, formerly co-head of the ECM business and now global head of capital markets origination. In the US, Steve Studnicky was promoted to co-head of ECM for the Americas earlier this year.
UBS’ capital markets results within its investment banking division were US$328 million in Q2 2025, up 24% year-on-year. In its report, UBS stated, “higher ECM revenues [were] more than offset by lower LCM and 65m of markdowns on LCM and hedging positions.”
Esteve has close to 30 years of experience and has been with UBS as head of EMEA ECM since 2022. Prior to this, he was a managing director at Barclays Investment Bank and JP Morgan.
