UBS is undergoing a restructuring of its wealth management operations in the United States. The goal is to expand its client base by focusing on affluent clients rather than just the ultra-wealthy.

The US wealth management business will be reorganized into six divisions, including four regional centers for wealth management clients, an international client division, and a "Wealth Advice Center" that will provide assistance to clients with lower asset levels through call centers and online services.

Rob Karofsky has been appointed as co-head of the global wealth management business alongside Iqbal Khan, effective summer 2024. UBS is committed to expanding its wealth management presence in the US market and aims to capture a wider range of clients while improving service delivery through various channels.