Greenhill & Co. ( GHL) an M&A advisory firm, announced it has hired an investment banker to lead its efforts to drum up business from large insurance companies.

Alejandro Przygoda had a similar position at UBS ( UBS) where he spent six years. He previously served stints at Credit Suisse ( CS) and General Re.

Greenhill is one of several smaller investment banks that have been hiring bankers, taking advantage of cutbacks and controversy at larger banks like Goldman Sachs ( GS) and Bank of America ( BAC).

The firm, founded by longtime Morgan Stanley ( MS) honcho Robert Greenhill, is rumored to be one of the more aggressive recruiters at the moment, in terms of paying up for top talent. Calls to Richard Lieb, Greenhill's CFO, and a UBS spokesman were not immediately returned.

Also on Monday, UBS replaced the CEO of its investment banking unit.