UBS has confirmed the departure of its Global Wealth Management division head, who steps down after leading the business through a transformative period that included the integration of Credit Suisse's private banking operations.
Under their leadership, UBS Wealth Management recorded its highest-ever net new money inflows, surpassing $120 billion in the most recent fiscal year, while managing the complex task of merging two of the world's largest private banking franchises.
"The legacy left behind is one of exceptional execution during unprecedented circumstances," said the UBS Group CEO. "The integration was one of the most complex in banking history, and it was delivered ahead of schedule."
A successor is expected to be announced within the coming weeks, with internal and external candidates under consideration.