UBS plans to restructure its wealth management business in the United States, effective December 11, 2024. The goal of the reorganization is to offer clients more personalized solutions and improve profitability within the unit.

The US wealth management division will be divided into four regions starting in 2025, expanding from the previous two divisions. In addition, a new division will be created to serve international clients, while a "Wealth Advice Center" will focus on managing lower asset clients primarily through call centers, online services, and virtual consultations.

Rob Karofsky, who was appointed co-head of Global Wealth Management alongside Iqbal Khan in the summer of 2024, will lead the revamped US wealth management business. UBS executives have consistently emphasized their commitment to growth in the US market, indicating a strategic shift in their approach to wealth management services.