Key Takeaways
- • Brice Thionnet, head of private markets at UBS Private Banking (UBP), is departing the Swiss bank to join an international private equity firm, according to an exclusive report from Citywire.
- • The exit represents another senior leadership departure from UBS's alternative investment and private markets divisions, following a broader wave of personnel changes post-Credit Suisse merger integration.
- • UBS's private markets operation, which manages exposure to private equity and related alternative assets for wealth management clients, will require replacement leadership as the bank consolidates its combined entity.
- • The departure underscores competitive pressure in private markets recruitment, with established alternative asset professionals increasingly moving between banking platforms and dedicated alternative managers.
Summary
Brice Thionnet is leaving Union Bancaire Privée (UBP), the private banking division of UBS, to join a global private equity firm, Citywire reported exclusively on June 11, 2026. Thionnet held the position of private markets boss at UBP, overseeing the bank's selection and management of private equity investments for its wealth management client base.
The move reflects ongoing personnel transitions within UBS's alternative investment platforms as the bank continues to absorb the 2023 Credit Suisse merger and realign its organizational structure. UBS has experienced multiple senior departures across its investment divisions in recent periods, including exits in impact investing leadership and other specialized advisory roles. These transitions typically signal both internal reorganization priorities and external market opportunities drawing experienced professionals to competing firms.
For institutional investors and family offices reliant on UBS's private markets capabilities, the leadership change may warrant attention regarding continuity of deal sourcing, investment thesis consistency, and portfolio management during any transition period. UBP's private markets function serves high-net-worth and institutional clients seeking access to private equity opportunities, making the quality and stability of leadership critical to service delivery and investment outcomes. The identity and experience profile of Thionnet's replacement will be important for assessing whether existing investment strategies and deal flow remain aligned with client objectives.
The departure also reflects broader market dynamics in private markets talent, where experienced selectors and portfolio managers command substantial external opportunities. Thionnet's move to an international private equity firm suggests continued consolidation and specialization within the alternative assets industry, where dedicated managers increasingly compete with universal banks for senior investment talent.
The move reflects ongoing personnel transitions within UBS's alternative investment platforms as the bank continues to absorb the 2023 Credit Suisse merger and realign its organizational structure. UBS has experienced multiple senior departures across its investment divisions in recent periods, including exits in impact investing leadership and other specialized advisory roles. These transitions typically signal both internal reorganization priorities and external market opportunities drawing experienced professionals to competing firms.
For institutional investors and family offices reliant on UBS's private markets capabilities, the leadership change may warrant attention regarding continuity of deal sourcing, investment thesis consistency, and portfolio management during any transition period. UBP's private markets function serves high-net-worth and institutional clients seeking access to private equity opportunities, making the quality and stability of leadership critical to service delivery and investment outcomes. The identity and experience profile of Thionnet's replacement will be important for assessing whether existing investment strategies and deal flow remain aligned with client objectives.
The departure also reflects broader market dynamics in private markets talent, where experienced selectors and portfolio managers command substantial external opportunities. Thionnet's move to an international private equity firm suggests continued consolidation and specialization within the alternative assets industry, where dedicated managers increasingly compete with universal banks for senior investment talent.
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