UBS Warburg promoted Ken Moelis to sole head of U.S. investment banking and gave co-head Robert Hotz a new post in which he will spend more time working with clients, according to people familiar with the situation.
Moelis, 43, joined UBS Warburg last year from Credit Suisse First Boston after CSFB's purchase of Donaldson, Lufkin & Jenrette Inc., Moelis' old firm. UBS Warburg is the securities unit of UBS, Switzerland's biggest bank.
