Just two weeks after announcing 19 hires to bolster its public finance roster, UBS Wealth Management Americas announced another new addition in Andrew Nakahata.
Nakahata was most recently responsible for rebuilding and implementing marketing and new business development strategy in the western division at National Public Finance Guarantee Corporation, but back in June National was downgraded by S&P, causing the insurer to cease all new business activity.
“We continue to build on our early momentum to enhance the public finance business in WMA,” said Peter Hill, head of public finance for UBS, in an internal memo Thursday. “Our initial focus is to bring in best in class talent across all levels and I am pleased to announce that Andrew Nakahata has joined the firm.”
Nakahata will take on the title of managing director and the regional head of the public finance west region at UBS. Prior to NPFG, he worked at Citigroup, where he was the co-head of the higher education group. He brings more than 20 years of experience in the public finance business.
Hill also indicated that this is not going to be the last hire in what has already been a busy year for the firm after getting back into the public finance business following a hiatus post-financial crisis.
The biggest wave was the most recent, when the firm brought in 19 employees to beef up its staff. This followed the hiring of Hill from Wells Fargo in April to re-open the public finance business, and the addition of Angelia Schmidt as managing director and head of public finance underwriting in June.
“We are pleased with the progress over the past couple of months and will continue to update you as our team expands,” said Hill.