He used to be Andrea Orcel’s right-hand man at the UBS investment bank – until the two fell out. Now, he has been appointed to a lucrative position at J.P. Morgan.
In the end, William Vereker was reduced to sitting in an office without a window at UBS Broadgate – after his fallout with Andrea Orcel in 2018.
Orcel originally had poached Vereker in 2013 from Japan rival Nomura and installed him as his representative in London. The Brit delivered and helped UBS increase its share of the market in the U.K. But Orcel pushed him aside after a spat.
Former Government Adviser
Rainmaker Vereker for a short while worked for ex-Prime Minister Theresa May in the capacity as an economic adviser. When Boris Johnson took over the reigns at Downing Street No. 10, Vereker lost his job and took a gardening leave. The «Financial Times» reported that the famous banker was kite-surfing in Brazil and Morocco.
Now, the 53-year-old is back in business. He will work on major deals in Europe for J.P. Morgan and focus on clients in the region as vice chairman of investment banking in the EMEA region. J.P. Morgan is the global No. 1 in investment banking and has generated an annual profit of more than $36 billion in 2019.
