UBS’s Philip Tsai becomes global secondaries head

The Swiss bank will not fill Gerald Cooper's position after the co-head departed for Campbell Lutyens in mid-August, Secondaries Investor has learned.

UBS has made Philip Tsai its global head of secondaries market advisory in the wake of co-head Gerald Cooper’s departure from the Swiss investment bank, Secondaries Investor has learned.

Tsai, who was global co-head with Cooper, assumed the role at the end of last week, a UBS spokeswoman confirmed. UBS has no plans to replace Cooper, whose last day at the bank’s office was 15 August.

The 12-year veteran and former managing director in the bank’s private funds group will join Campbell Lutyens after two months of gardening leave to help develop its North American secondaries activities with a focus on GP-led restructurings, Secondaries Investor previously reported.

Tsai, a 15-year veteran at the bank, leads a team of 19 professionals globally from its New York office.