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The merger of the international and the U.S. wealth management business of UBS has led to the first changes at management level and among the organizational structure.

Switzerland’s largest bank two months ago merged the wealth management units into one global organization. The new division is called Gobal Wealth Management (GWM) and is led by Martin Blessing and Tom Naratil, as was also reported by finews.com.

This week, the bank made the first changes in management and organization, according to «Reuters». The news organization based its report on an internal memo to members of staff.

New Investment Platforms and Solutions Unit

The regional teams in charge of products and services related to alternative investments, investment mandates and partnerships have been merged, «Reuters» said. Jason Chandler and Christian Wiesendanger are jointly responsible for the newly created Investment Platforms and Solutions (IPS) unit.

Some differences between the international wealth management and the U.S. business are set to remain. In the U.S., the brokerage model will be retained, but the merger will allow UBS in the U.S. to better advise wealthy American clients. The bank will give better access to its products thanks to the IPS unit. And that in turn will lead to changes among the personnel.

Appointments