UBS appoints 180 managers at global wealth division
UBS announced the appointment of 180 wealth managers on Thursday.
Keystone / Martin Ruetschi
Following the takeover of Credit Suisse, UBS announced the appointment of 180 wealth managers on Thursday, as reported by Reuters. With this move UBS will return to Australia and India.
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Reuters /sp
“The goal is to offer our customers the best of our combined organisation as quickly and seamlessly as possible,” Iqbal Khan, UBS’s president of global wealth management said in an internal memo obtained by Reuters.
The management changes will be effective from July 17 and several former Credit Suisse managers are said to have secured a spot in the wealth management division, even though Switzerland’s biggest bank had previously said it was considering cutting over half of Credit Suisse’s workforce.
Former Credit Suisse executive Michael Marr will become the head of global wealth management Australia, marking the return of UBS’s wealth management business into the country. Similarly, the bank will be returning to India, with former Credit Suisse executive Puneet Matta as the new head. The bank also confirmed that Lisa Golia will become Chief Operating Officer for wealth management in the US.
With the appointment of the new executives, UBS will also take over the shipping finance business of Credit Suisse, which it will merge with its aircraft financing business. According to Reuters, the merged unit will be led by Ruben Mangolg.
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