Thanks to its acquisition of Credit Suisse, UBS is now the number one private bank in the region. It has reappointed its management team in Latin America.
Numerous problems may plague Latin America, but private banks still consider the region lucrative. UBS has risen to become the market leader there and has now reorganized its management.
According to an internal bank memo seen by «Bloomberg,» UBS named several former Credit Suisse executives to its regional ranks. The bank is considered well-connected in Latin America and has ambitious growth plans. The wealth management division in the region is headed by Marcello Chilov, and its international platform is led from Switzerland by Matthias Musch, who also reports to Chilov.
Prominent Credit Suisse Executives
Nicolas Troillet, responsible for global markets and wealth management in Mexico at Credit Suisse, takes over market and client development for the entire region.
Andreas Mastai, also a former Credit Suisse executive, becomes head of private banking in Panama, Chile, and Colombia, taking on the role of market head for Central, Andean, and South Latin America. This will smooth the coordination of strategy and cross-border business for those markets.
In addition, former Credit Suisse executive Alberto Piedrahita heads UBS's representative office in Colombia. Jeronimo Correa Braun, also from the acquired bank, will lead UBS' representative office and advisory office in Chile.
Brazil Remains Separate Market
Brazil managed as a separate market in the region, sees Rafael Gross leading private banking and Luiz Borges heading client development.
Others named for Brazil include Bruno Barino, head of the Brazil multi-family office, José Renato Carvalho, head of Brazil investment coverage, and Luiza Xavier, head of Brazil client management and affluent clients.
