The deputy head of US equity capital markets at UBS has left for a placement agency, the latest in a string of top level departures from the Swiss investment bank's North American business.

Adam Frieman who worked as deputy head of US equity capital markets, moved to Probitas Partners, the San Francisco-based global alternative investment placement and advisory firm. At Probitas he will be a principal with a focus on relationship and liquidity management for Probitas' limited partner client base.