Page 2 of 2

LOSING OUT:

Christine Novakovic: The veteran banker (pictured below) is nothing if not a survivor (click here to read more), but this latest demotion must sting. Novakovic just won the top EMEA job two years ago, and now must give a huge chunk of it to Caroline Kuhnert and Ali Janoudi.
 

Novakovic 500

She keeps Europe SE, UBS’ post-Brexit hub – arguably the least interesting thing about her job and one beset with troubles recently.

Christian Wiesendanger: The former head of IPS, or the wealth product «shelf», is left out in the cold in the revamp, though with warm words from Khan and Naratil.

Wiesendanger 500

The 55-year-old Wiesendanger, whose background is in Swiss private banking, may still have a role at UBS. «We look forward to benefiting from his leadership and advice in a new role within UBS in the future,» Khan and Naratil said on Tuesday.

Sara Ferrari: The family office boss’ future is unclear, but Stadler (see winners) has snagged her job – and a juicy growth order to go with it. Ferrari, another high-profile female protégé of ex-investment bank head Andrea Orcel, will support Stadler, a banker insider said. It is more likely the former Merrill Lynch investment banker will, sooner or later, seek her fortunes elsewhere.

Paula Polito: the U.S. private banker (pictured below) is giving up her job as chief strategist to the unit in exchange for a vice-chairman job in the division.

paula polito kopie

Polito, hugely influential in the U.S. but virtually unknown outside, is a champion of women and financial literacy – and that’s where Khan and Naratil plan to deploy her.

Tom Naratil: The American UBS veteran is still at the top of the wealth arm with Khan, but is seeing large parts of his 2018 strategy (together with then-co-head Martin Blessing) reversed. The initial promise of a megamerger of UBS’ brokerage and wider private bank is giving way to more regionalization – and more local say-so and accountability.

 Reporting by Katharina Bart and Samuel Gerber