UBS has appointed new co-heads of its mergers and acquisitions business in the US to fill the gap left by Cary Kochman, whose move to rival Citigroup last month was the latest in a string of senior departures at the Swiss bank in the US.

UBS said in a statement yesterday that Marc-Anthony Hourihan and Ehren Stenzler have been appointed to replace Cary Kochman, the bank's former co-global head of M&A who left to join Citi last month. Hourihan and Stenszler will report directly to Aryeh Bourkoff, Americas head of investment banking, and ultimately to Liam Beere, global head of M&A.