UBS' Piero Novelli joins stock market operator Euronext as the new chairman.

Photo: Leaprate

The pan-European exchange Euronext has announced hiring Piero Novelli, a co-president at Swiss bank UBS, to become its new chairman.

Novelli’s career spans almost three decades. He has served as co-president of Investment Bank of UBS and a member of UBS Group Executive Board since Oct 2018. He became Co-Executive Chairman of Global Investment Banking in 2017 and in 2016 was sole Global Head of Mergers and Acquisitions (M&A).

Novelli was also a member of the UBS Deutschland AG Supervisory Board between 2013 and 2016. He joined UBS again in 2013 as Chairman of Global M&A and Group Managing Director. Between 2011 and 2012, he was Global Co-Head of M&A at Nomura, having worked as Global Head of M&A at UBS from 2004 to 2009.

Prior to that, he has worked as Head of European M&A and Head of European Industrials for Merrill Lynch. He has advised corporate boards on many large-scale M&A transactions across all sectors and geographic areas. In his career, he has advised many large Italian corporations.

Euronext plans to close its 4.3 billion euro ($5.22 billion) acquisition of Borsa Italiana from the London Stock Exchange in the first half of 2021.

Euronext’s Amsterdam unit showed it had taken London’s place as Europe’s biggest share trading centre after Britain left the European Union’s single market following the Brexit deal.

Reprinted from Leaprate, the copyright all reserved by the original author.