UBS promotes investment banker Glyn Davies to U.K. vice-chairman
ZURICH (Reuters) - UBS (UBSN.VX) said it is expanding the role of British investment banker Hew Glyn Davies to include vice-chairman of the Swiss bank's overall U.K. activities, an effort to better join up the securities unit with money-management for the wealthy.
"As vice-chairman of UBS U.K., he will work to further develop the client franchise across the investment bank, asset management and wealth management," UBS said in a memo sent to staff on Thursday by region head Ulrich Koerner and investment banking co-heads Andrea Orcel and Carsten Kengeter.
Glyn Davies' move represents a larger push by both UBS and Credit Suisse (CSGN.VX) to more actively cater to wealthy clients in the private bank with sophisticated investment banking advice.
The appointment is effective immediately.
(Reporting By Katharina Bart; Editing by Bernard Orr)
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