UBS's joint global head of investment banking, Jimmy Neissa, plans to retire from the bank at the end of March, according to an internal memorandum sent to employees.

In the memo, Carsten Kengeter, head of the investment banking unit, said Neissa had advised him in early 2011 of his desire to "transition out of his IBD leadership role in order to focus full time on family business interests in New England and Colombia."