UBS has internally announced a change to lead its Asia-Pacific wealth management unit as it continues to integrate with Credit Suisse. Finds Asia Have learned.
UBS has announced a number of management changes in its Global Wealth Management (GWM) business, according to a memo seen by UBS. Finds Asia.
Nominated by Swiss financiers Eve-Alan Somerhalder Head of Asset Management for Credit Suisse, reporting directly to the President of UBS GWM Iqbal Khan Credit Suisse CEO Ulrich Kellner. Somerhalder held a number of senior client-facing positions at Credit Suisse in Zurich and Hong Kong before retiring in October 2022.
CS report line
Former Credit Suisse Wealth Head Francesco De Ferrari He will remain a senior advisor to Khan and the combined leadership team to ensure a seamless transition.
All Credit Suisse Wealth Management staff currently reporting to De Ferrari will report to Somerhalder, along with their respective UBS GWM Regional or Functional Heads, until further notice. All other Credit Suisse wealth staff reporting lines and governance remain unchanged.
APAC leadership
in Asia, Amy Law As co-head of GWM APAC, he will continue to oversee the Hong Kong, North Asia and Greater China markets. She will also serve as chairman of GWM Asia.
Jin Yi Young will join UBS as Co-Head of GWM APAC on 29 June, overseeing the Singapore and South East Asian markets.young succeed August Hateke who will remain at the bank and lead the UBS GWM Swiss business, which includes a global financial intermediary.
strategic customer
CEO, Credit Suisse Hong Kong Benjamin Cavalli Based in Singapore, Mr. Cavalli will be responsible for the bank’s ultra-high net worth solutions offering, global partnerships, premier marketing office, community and strategic client segments.
He will also be part of the GWM leadership team, acting on Khan’s behalf in “critical customer situations.”
Wealth consolidation
Somerhalder and UBS GWM COO Wiwi Guttmansbauer He will co-lead the bank’s wealth management integration team. The companies will also partner with heads of regional business units and global capabilities teams.
A spokeswoman for the bank confirmed the contents of the memo.
