ZURICH UBS (UBSG.S) named new leaders of its European and U.S. divisions responsible for wealth management products, the world's biggest private bank said on Monday, as the bank looks to increase collaboration among its global wealth business.
UBS has made Christian Wiesendanger and Jason Chandler global co-heads of Wealth Management Investment Platforms and Solutions and Wealth Management Americas Investment Platforms and Solutions.
The pair will report jointly to Juerg Zeltner, Wealth Management head in Europe, and Tom Naratil, head of UBS Wealth Management Americas in New York. The changes are effective April 3.
Under Naratil, the Swiss bank's former finance chief who took over as head of the wealth business in New York in January 2016, UBS has looked for structural ways to improve "alignment" across its business.
Chandler replaces Paul Hatch, who will take on the job of northeast divisional director and chairman for the private bank. Wiesendanger takes over from the interim leader Jakob Stott, who will return full time to his role as Europe's wealth management divisional vice chairman.
(Reporting by Joshua Franklin; Editing by David Clarke and Leslie Adler)