The head of risk at the European division of UBS is leaving the bank. The replacement comes from U.S. rival Goldman Sachs.
Birgit Dietl-Benzin, the head of risk at the European unit of Switzerland’s largest bank, has left the company, according to a report by «Private Banking Magazin». UBS has appointed Pierre Chavenon as her successor. He will join from Goldman Sachs, where he held a similar position, and will start on July 1.
Dietl-Benzin will take up the job as head of risk at Deka, the funds business of Germany's Sparkassen, according to a report by «FAZ».
At the same time, UBS Europe also promoted Chief Operating Officer Andreas Przewloka as deputy to Christine Novakovic, the head of UBS Europe. Heinrich Baer, who leads the wealth management in Luxembourg, also joined the board.
Many Departures
There have been a series of changes at the top of UBS Europe in recent months. Novakovic assumed the position at the top of the division a year ago. She also is in charge of wealth management in Western Europe.
When Novakovic took over at the Frankfurt-based business, several high-ranking managers left. Novakovic has since lost some of her influence when the bank redistributed its wealth management along the borders of several regions.
