Tom Naratil, a top UBS executive for decades, is forging a new path. He's moving to a private equity firm.
Tom Naratil is taking on a new challenge. The long-time top executive at UBS has a new job, moving to Lightyear Capital, a private equity firm specializing in asset management, and becoming an operating partner, according to a «Barron's» (behind paywall) report.
Bringing UBS Know-How
The private equity firm attracted him because of its management and expertise, as well as the opportunity to help asset management firms grow. He'll help with due diligence and deal sourcing, and helping portfolio companies find their way, he says.
In doing so, he plans to leverage the knowledge he gained during his decades-long career at UBS where he served in a variety of roles, including co-head of global wealth management, head of UBS Americas and chief financial officer.
Previous Team Partner
Lightyear Capital highlighted Naratil's experience and expertise as reasons for hiring him. At the New York-based firm, he will be reunited with managing partner Mark Vassallo, with whom he previously worked at Paine Webber which was taken over by UBS in 2000.
He spent four decades in the service of UBS, retiring in October of last year. Saying goodbye was not easy for him, describing the feeling as «bittersweet.» But for Naratil it was the right time to leave since he had great trust in the team and his successors.
There was even talk of a comeback, as it was rumored UBS CEO Sergio Ermotti could bring him back to lead the takeover of Credit Suisse. According to rumor mill at the time, Ermotti would draw on longtime allies with experience in investment banking and finance for the massive integration task.
