The wealth management business of UBS in Germany has seen a number of departures this year so far. The bank has now found a replacement for one of the key positions at this unit.
Carl von Wrede has been put in charge of the business with the ultra-high net-worth clients in Germany, according to a report by «Private Banking Magazin». He assumed the position previously held by Marcus Stollenwerk who left UBS in spring to joing Flossbach von Storch, an independent wealth manager.
Von Wrede started in his new role at the beginning of November. He was previously active in a similar capacity at UBS in Munich and was in charge of the family office business for all of Germany.
Ex-Morgan Stanley
The position that von Wrede was appointed to is but one that became vacant this year. Before Stollenwerk left in spring, UBS also waved goodbye to Barbara Rupf Bee, head of Germany, and Thomas Rodermann, head of the European legal office.
Von Wrede joined UBS in 2013, having worked for Morgan Stanley for 14 years. Before he took over his new responsibilities, Mara Harvey had been left in charge ad interim.
