Low bonuses at UBS might be to blame for the firm’s losing one of its top tech bankers to Evercore, the investment banking firm founded by Roger Altman.The former head of software, internet, and enterprise and head of large-cap tech banking at UBS, Eric Mandl, was just hired to be a Senior Managing Director at Evercore.
The loss is a big one for UBS because Mandl works in the tech space, which banks have been fawning over recently because they’re hot targets for IPOs.
And Mandl has worked on many tech deals, including acting as: an advisor to IBM on its acquisition of Netezza, financing advisor to Symantec on its inaugural investment grade bond, advisor to IBM on its purchase of iLog SA, advisor to Red Hat on its purchase of Qumranet, advisor to TeleLogic on its sale to IBM, advisor to KKR on its purchase of Flextronics Software Systems, financing advisor to GTCR on its purchase of the auto claims processing business out of ADP, and an advisor to IBM on its purchases of Daksh and PwC.
He’s also a bit of a wonder-boy. At the famous Stuyvesant High School, a public school known for pumping out under-privileged maths and science geniuses, Mandl stood out.
The editor of the Bio-Med Times was also considered one of the school’s computer wizards. And in his spare time, he played a part in a school musical — and did all of his homework.His conscientious nighttime study habits impressed everyone:
“I have so many friends who don’t have any homework at all,” he told a newspaper in 1992.
Today Mandl still multi-tasks. In addition to his job, he’s also on the acquisition committee of the Guggenheim, he’s a Young Fellow at the Frick, and he’s on the Met’s Apollo Circle Benefits Committee.
And here’s another reason UBS must be bummed to lose him to the stream of bankers flowing from Wall Street banks to smaller firms or hedge funds:
Apparently, he’s super nice because he used to be a nerd.
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