A 24-year veteran of UBS is moving to Union Bancaire Privée, finews.com has learned. The move means partial reinforcement following the exit of the Genevan wealth manager's overall private banking head earlier this year.
Geneva-based Union Bancaire Privée (UBP) hired René Mottas as its new head of wealth management in Europe, a source familiar with his hire told finews.com. Mottas was most recently part of UBS' private banking management, after being frozen out of a mega-merger in January 2018.
Mottas' job is to expand Union Bancaire Privée's business in Europe through its Zurich, London, Lugano, Milan, and Monaco branches, the person said. The hire, effective since September, was confirmed by a UBP spokesman. Mottas, who will also be responsible for Luxembourg, will work closely with new Zurich boss Adrian Kuenzi, who joined UBP after leaving the CEO job at Notenstein La Roche last year.
Spilling Over
UBP is among a raft of Genevan firms keen to spill across the figurative «ditch» into German-speaking Switzerland and beyond, as finews.com reported last year. Led by Guy de Picciotto, UBP has aggressively acquired in recent years, mainly to bolster its business with Asia's wealthy.
The bank overall wealth boss Michel Longini departed for Edmond de Rothschild earlier this year. De Picciotto, who is the son of founder Edgar de Picciotto, is standing in to oversee the private banking arm.
