MUFG hires UBS executives to grow leveraged finance

Rick Steves

Garret Rowan and Mike Macchia are the latest in a succession of recent additions to MUFG’s leveraged-finance platform.

Mitsubishi UFJ Financial Group (MUFG) has snatched two directors from UBS, Garret Rowan and Mike Macchia, to prop up MUFG’s leveraged finance platform based in New York.

Garret Rowan joins MUFG as Head of the Leveraged Loan Trading and will report to Steven Feinberg, Head of Credit Trading. He will work closely with both MUFG’s Debt Capital Markets group as well as the CLO Origination and Trading teams as the bank continues to expand its Leveraged Loan footprint.

At UBS, Garret Rowan was a Director in the Par Loan Trading group, responsible for market making and driving client relationships. Prior to that, he was a loan trader at both Deutsche Bank and US Bancorp.

Mike Macchia joins MUFG as Director of Leveraged Finance Sales and will report to Tim Fischer, Head of U.S. Sales for Leveraged Finance. He will focus primarily on leveraged loans and building out MUFG’s distribution platform for both primary and secondary sales.

At UBS, Mike Macchia oversaw some of the largest loan accounts as well as distressed and high-yield investors. Prior to that, he held positions at Deutsche Bank, Nomura, and GE Capital Americas.

Leveraged finance, a key focus area for MUFG

Kevin Cronin, Regional Executive and CEO for the Americas at MUFG, said: “Leveraged finance is one of our key focus areas for MUFG, and is crucial to the sustainable success of our firm. Our ambition is for MUFG to become a top corporate-banking debt house in the Americas across the credit spectrum through our full-lifecycle business model—from origination to distribution and secondary trading.”

John Karabelas, Head of Institutional Investor Sales for the Americas at MUFG, said: “Mike and Garret bring a complementary mix of background and expertise, and we are excited to welcome them to our team. This continued strategic expansion of our leveraged finance platform solidifies our commitment to growing in the secondary trading space and to serving our clients. We will continue expanding our leveraged finance capabilities, which is a critical part of our growth strategy.”

Garret Rowan and Mike Macchia are the latest in a succession of recent additions to MUFG’s leveraged-finance platform.

In 2021, MUFG appointed Todd Bondy as Head of High-Yield Trading and Ryan Munro as Head of Leveraged Syndicate. Both executives joins the New York-based operation as Managing Directors.

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