Another UBS exec joins Evercore

Lea Lazaric Calvert is joining Evercore’s private capital advisory business as managing director and will focus on advising leading financing institutional investors and fund sponsors on secondary transactions.

She will start in July and will be based in the firm’s London office.

Lazaric Calvert was most recently executive director at UBS where she was a member of the bank’s private funds group and was responsible for the coverage of a number of institutional investors in countries including the UK, Germany and Switzerland.

In her career, she has advised private equity general partners globally and has an extensive fund placement experience. Prior to joining UBS’s private funds group, she worked in UBS’s equity capital markets division, also in London.

“We have long promoted the view to GPs that a supportive attitude towards the secondary market is a key part of a good investor relations function,” Nicolas Lanel, European head of Evercore’s private capital advisory business, said in a statement.

“Today, we see a lasting opportunity for GPs to proactively utilise the secondary markets as an effective fund raising tool and we therefore encourage our clients to embrace these markets as part of their overall capital raising strategy.”

Lazaric Calvert is not the first to leave UBS’s secondary advisory business, for years considered one of the market’s top advisory practices, for Evercore. Two years ago, Nigel Dawn, who used to head UBS’s private equity secondaries advisory business, left the bank, initially to retire, but he then went on to join Evercore. Evercore then poached Lanel and Rodney Reid, both also from UBS.

UBS did not respond immediately to a request for comment. Evercore was not immediately available for comment.

Evercore’s private capital advisory group was formed in 2013 and advises institutional investors, financial institutions and fund managers on finding liquidity in portfolios of private assets. The group now has 23 professionals in New York and London.