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UBS is restructuring its US wealth management division to attract a wider range of affluent clients and improve profit margins, which currently lag behind competitors like Merrill Lynch and Morgan Stanley. The revamp includes dividing the unit into six divisions, enhancing banking services, and appointing new field leaders to foster growth and responsiveness to client needs. The firm aims to integrate its Global Family & Institutional Wealth framework with new capabilities, positioning itself for more effective competition in the market.
UBS is revamping its US wealth management division to attract a wider range of affluent clients, moving beyond its traditional ultra-high net worth focus. The restructuring includes dividing the unit into six divisions, enhancing banking services, and appointing new leadership to improve responsiveness and decision-making. The firm aims to boost profit margins and compete more effectively against rivals like Merrill Lynch and Morgan Stanley.
UBS is revamping its US wealth management division to attract a wider range of affluent clients, moving beyond its traditional ultra-high net worth focus. The restructuring includes dividing the unit into six divisions, enhancing banking services, and appointing new leadership to improve responsiveness and decision-making. The firm aims to boost profit margins and compete more effectively against rivals like Merrill Lynch and Morgan Stanley.
UBS is restructuring its US wealth management business, effective January 1, 2025, by dividing it into four regions alongside UBS International and the Wealth Advice Center. Key appointments include regional directors and a new advisory segment for ultra-high-net-worth clients, now including those with over $50 million in net worth. The organization aims to enhance decision-making and customer responsiveness while streamlining sales and support teams.
UBS is restructuring its US wealth management business, effective January 1, 2025, creating four regional divisions to enhance decision-making and client responsiveness. Key appointments include Chris DiMuria as Northeast Regional Director and John Mathews leading a new Private Wealth Management segment. The organization will also introduce a "UHNW Plus" client segment for those with over $50 million in assets, managed by Charles Otton.
UBS is restructuring its US wealth management business effective January 1, 2025, creating four regional divisions to enhance decision-making and client responsiveness. Key appointments include Chris DiMuria as Northeast Regional Director and John Mathews leading a new Private Wealth Management segment. The firm will also expand its Global Family & Institutional Wealth framework and streamline sales and support teams for improved efficiency.
Rob Karofsky and Iqbal Khan have been appointed co-leaders of UBS's Global Wealth Management division, tasked with enhancing profitability and integrating Credit Suisse. UBS reported a return to profit in Q1, with revenues rising significantly, while a new division, GWM Solutions, aims to streamline services for wealthy clients. The integration of Credit Suisse is on track for completion by 2026, amid scrutiny of the crisis that led to its acquisition.
UBS has appointed Angelia Schmidt as the new Head of its Global Financial Sponsors Team, effective November 18, based in New York. With over 25 years of capital markets experience, Schmidt aims to enhance relationships with over 1,000 asset managers on the UBS platform, reporting to senior leaders in Zurich and the U.S.
UBS Wealth Management has appointed Angelia Schmidt as the new Head of the Global Financial Sponsors Team, effective November 18, based in New York. With over 25 years of experience, including a significant tenure at J.P. Morgan, Schmidt aims to enhance relationships with partner firms and strengthen the team's role as a key interface for over 1,000 wealth managers. She will report to Benjamin Cavalli in Zurich and Jason Chandler in the USA.
UBS has appointed Angelia Schmidt as the new Head of its Global Financial Sponsors Team within the Global Wealth Management division, effective November 18. Based in New York, she will report to Benjamin Cavalli in Zurich and Jason Chandler in the U.S. With over 25 years of capital markets experience, Schmidt has been with UBS since 2017, where she significantly advanced the public finance business. Her extensive background includes a 19-year tenure at J.P. Morgan, focusing on municipal finance and structured products.
Jason Chandler
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ubs restructures us wealth management to enhance competitiveness and profit margins
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