UBS has appointed a veteran manager to one of its top positions in the U.S. His promotion helped another executive with a long career in wealth management bolster his influence.
Zurich-based UBS named Jason Chandler as its new head of wealth management in the U.S., the world’s largest financial market. Chandler has been with the Swiss bank for more than two decades.
The U.S. wealth management division this year became part of the Global Wealth Management unit of UBS. The U.S. business has some 7,000 relationship managers.
Banking With the Rich
Sergio Ermotti, the bank's chief executive officer, wants to grow the business in a market that has a volume of about $2.4 trillion. He has given Chandler the task of boosting the business with the super-rich, seen as particularly profitable, according to a report by «Bloomberg».
Chandler’s predecessor, Brian Hull, has been promoted to the position of executive vice-president, a more ceremonial role.
Swiss Promotion
As Chandler climbs the career ladder, Christian Wiesendanger is now taking full control of the investment solution platform WM IPS, a business he so far led together with Chandler. Wiesendanger, the former head of wealth management in Switzerland, is consolidating his influence within the company.
