UBS’s New Head of EMEA ESG Advisory to be Based in Stockholm

    Stockholm (NordSIP) – After thirteen years at EQT, Therése Lennehag recently announced that she is leaving the firm to join UBS Investment Bank as Head of ESG Advisory for Europe, the Middle East, and Africa in August. Lennehag is hardly a stranger to investment banking despite her long tenure in private equity. She started her career in London at the investment banking divisions of Credit Suisse and Morgan Stanley. Upon re-joining the field, Lennehag brings along the vast experience she has gained as Head of Sustainability at EQT. During her years there, she has honed her skills in advancing responsible investment and ownership practices to capture the opportunities that the sustainability agenda offers.

    “This is the decade of delivery, and for finance, it’s about the future of value and values,” Lennehag commented on LinkedIn on her last day at EQT. “Let’s together shape the future we want and value the future for generations to come!” This was NordSIP’s cue to reach out to her and find out about her move and the Swiss investment bank’s sustainability ambitions.

    Lennehag sounds genuinely excited to be shifting gear. She immediately picks up the value theme again. “As I head into my new role, what I find most intriguing is the future of the value conversation and how what we value as a society will transform,” she reflects. “How will mindsets and value formulas shift as we genuinely, and at scale, understand how dependent we are on nature, other living species, and each other,” she wonders on a rather philosophical note.

    Having been part of EQT Group’s transformation journey, Lennehag leaves on a high. “I shall certainly miss the people, the entrepreneurial spirit and the conviction that nothing is impossible,” she says wistfully. “Yet, after 13 years, I’ve made friends for life. Not just at EQT but also in the broader private equity industry and sustainable finance community. Looking ahead, we’ll be able to collaborate in new ways and drive things forward at pace and scale,” she adds.

    At UBS, Lennehag will be joining a newly created ESG advisory team headed by UBS veteran Laurent Bouvier, whose explicit mission is to add value across the investment bank’s client base by applying an ESG lens to business selection, client coverage, pitching and execution. Recognising Lennehag’s ability to inspire and support the EQT funds’ portfolio companies on their sustainability journeys was, no doubt, one of the reasons for UBS to approach her about the new position. The Swiss investment bank is not alone in actively seeking out this kind of talent. Lately, other firms, like Deutsche Bank, Citigroup, Goldman Sachs and JPMorgan have also been creating dedicated teams of advisors focused on ESG issues.

    Despite the broader geographical responsibility of her new role, Lennehag reveals that she will be based at UBS in Stockholm. “Swedish companies and investors are at the forefront of the sustainability movement, so I wouldn’t want to miss out on all the great inspiration, knowledge and collaboration this region offers,” she explains the rationale behind the decision. “However, I’ll spend ample time in London to get to know my new colleagues and together integrate the ESG advice into the greater UBS client offering,” she concludes.


    Image courtesy of Therése Lennehag
    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA is Editor-in-Chief for NordSIP and Managing Director for Big Green Tree Media. She has 18 years of experience in the asset management industry in Stockholm, London and Geneva, including as a long/short equity hedge fund portfolio manager, and buy-side analyst, but also as CFO and COO in several asset management firms. Aline holds an MBA from Harvard Business School and a License in Economic Sciences from the University of Geneva.

    Latest Posts


    NordSIP Insights Handbook

    What else is new?

    ESG Leaders 2023