UBS is promoting several private bankers in its business with U.S. wealthy.
Zurich-based UBS is appointing Judy Spalthoff as its head of family office solutions in the U.S., effective immediately, according to a memo seen by finews.com on Thursday. She replaces Ann Rybak, who is stepping down to spend more time with her family.
The unit looks after clients with over $100 million in assets, an area UBS has been hiring copiously for under ultra-rich head Josef «Joe» Stadler. UBS' private bank underpinned a nearly-two-thirds rise in UBS' second-quarter profits.
Philanthropy Merger
Spalthoff has held the role of head of family advisory and philanthropy services for the last six years. She was key in merging philanthropy services and the Optimus Foundation at UBS, according to memo, signed by John Mathews, who oversees the Swiss bank's wealth management and ultra-rich segment in the U.S.
Sarah Salomon will replace Spalthoff in the family and philanthropy job.
The bank also promoted Michael Sarlanis to head ultra-high net worth clients at UBS International. Until now, he was co-head of its U.S. private bank.
