The Swiss bank is reordering its burgeoning business with Swiss mortgage broking, a move which has occurred without the key executive behind the original platform push, finews.com has learned.
Martha Boeckenfeld is is no longer the platforms head in UBS' Swiss business, nor does she sit in the lender's domestic management committee, finews.com has learned. She appears to have relinquished the role, which she held since 2019, at the end of May.
The 56-year-old German native remains a senior adviser to UBS, though on a more global scale than previously. She no longer seems to be connected to Key4 and to Atrium, two mortgage platforms which she was instrumental in developing and launching. UBS has merged distribution channels and product offerings of the two under the Key4 name, it said.
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Key4 is now led by Matteo Bernardoni as head of lending platforms in Switzerland; the Swiss native had already worked on the design of both platforms, and is reporting to Swiss operating chief Sabine Magri.
Atrium has broker more than 1 billion Swiss francs ($1.08 billion) in for home equity loans since it was launched four years ago. Last year, it launched Key4 in a bid to develop an ecosystem for home ownership.
Key4 competes not only with traditional lenders but fintech participants such as Moneypark, a subsidiary of insurer Helvetia which last year booked more than 3.4 billion in transactions on its platform – making it the market leader.
