UBS' head of structured products in Switzerland is leaving the Swiss bank. The exit follows strategic differences.
Adrian Steinherr (pictured below) is leaving his role as head of structured product distribution in Switzerland, he confirmed to finews.com. The surprise exit after nearly nine years at the Swiss bank follows strategic differences, and also triggers his exit as head of a Swiss lobby group for structured products, after just one month.
UBS didn't comment on the exit of Steinherr, a managing director who joined the bank from Citi in 2011. His exit also leaves Switzerland's lobby group for structured products in the lurch. Steinherr had just been elected to run the body last month.
He will be replaced at the industry body by Markus Pfister (pictured below), who is the operating chief of Vontobel's investment bank. Another Vontobel banker, Georg von Wattenwyl, had presided the derivatives body until moving to Singapore earlier this year.
