Former Top UBS Executive Joins PE Firm Lightyear Capital
Tom Naratil, former co-president of UBS Global Wealth Management, has joined Lightyear Capital, a private equity firm specializing in asset management, as an operating partner of Lightyear Fund V.
He will oversee investments in the wealth management and financial services space.
New York-based Lightyear, which had $4.1 billion in assets under management at the end December 2022, has investments in Allworth Financial, Cerity Partners and Wren Sterling. Prior “realized” investments include Advisor Group, Cetera, Clarion, RidgeWorth Financial and Wealth Enhancement Group.
“We have known Tom for a long time and are thrilled that he selected to work with Lightyear. We are excited to work with Tom to further expand and strengthen our thematic investing in this important sector,” said Mark Vassallo, managing partner of Lightyear Capital.
Nataril was also President of UBS Americas and a member of UBS Group AG’s Executive Board.
Last summer, he announced his intention to stand down as head of UBS Americas and co-head of global wealth management in October 2022.
In April of this year, following the March announcement of UBS’ government-brokered acquisition of Credit Suisse, reports emerged that UBS would bring back Naratil as CFO.
In May, however, UBS named Todd Tuckner CFO, taking over from Sarah Youngwood.