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BANK OF AMERICA (BAC)
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UBS Hires Former BofA Analyst Milunovich To Cover IT Hardware

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05/03/2012 | 09:25pm CEST
   By Brett Philbin 
   Of  
 

UBS AG (UBS, UBSN.VX) has hired Steven Milunovich, a former Bank of America Corp. (>> Bank of America Corp) analyst, as a managing director and analyst covering information technology hardware in its U.S. research group.

Milunovich, with a 25-year career as an analyst, will report to David Bleustein, head of U.S. equities research. Previously, Milunovich worked at Bank of America Merrill Lynch as an analyst covering alternative energy from 2008 to 2012. Prior to that position, he held titles including technology strategist at Merrill Lynch, which was acquired by Bank of America in 2009. He previously covered International Business Machines Corp. (IBM) and other leading technology companies.

He also worked at firms including Morgan Stanley (MS) and Salomon Brothers, according to Financial Industry Regulatory Authority records.

Milunovich's addition to UBS marks the second recent analyst hire for the firm, which recruited A.J. Rice, a managing director who previously worked at Susquehanna Financial Group, to cover U.S. health-care facilities.

The new hires come as UBS focuses on revamping the investment bank in the region under Chief Executive Robert McCann. Last fall, UBS said it would pare down the unit in the wake of an embarrassing trading scandal, but executives have reaffirmed their commitment to the investment bank, with a primary focus on client and advisory businesses.

News of Milunovich's hire was reported earlier Thursday by Bloomberg News.

-By Brett Philbin, Dow Jones Newswires; 212-416-2173; [email protected]

Stocks mentioned in the article : Bank of America Corp
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA -1.79% 30.26 Delayed Quote.4.37%
INTERNATIONAL BUSINESS MACHINES CORPORATION -0.29% 144.08 Delayed Quote.-5.81%
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Financials ($)
Sales 2018 92 975 M
EBIT 2018 38 133 M
Net income 2018 26 038 M
Debt 2018 -
Yield 2018 1,96%
P/E ratio 2018 11,97
P/E ratio 2019 10,38
Capi. / Sales 2018 3,36x
Capi. / Sales 2019 3,20x
Capitalization 312 B
Chart BANK OF AMERICA
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Bank of America Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Technical analysis trends BANK OF AMERICA
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 34,3 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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