Based in New York, Cummings will report to Jimmy Neissa, Matthew Grounds and Simon Warshaw, joint global heads of IBD.
Cummings will join the UBS on 18 April.
UBS Americas CEO Phil Lofts said that UBS created the position of chairman of Americas Investment Banking to enhance the existing strengths in the US and to underscore the commitment to grow its US investment banking franchise.
Neissa said that partnered with Aryeh Bourkoff, Americas head of Investment Banking, Cummings’ deep expertise and insight will help UBS enhance and support the investment banking business during what will be a strong growth phase for the US business.
Previously, Cummings was senior executive vice president and head of corporate and investment banking at Wachovia Bank.
He started his career in 1979 in the corporate finance department of Kidder, Peabody & Co. Incorporated in New York.
Cummings subsequently joined Bowles Hollowell Conner & Co, a merger & acquisition advisory firm, and became its chairman and CEO in 1993.
