 | |  Providing an environment in which high quality individuals can thrive is also critical in our wealth management businesses.
UBS has scale and excellence in two different types of private client business: the brokerage model, through UBS PaineWebber, and the banking model, through Private Banking. In Europe in 2001 we have been putting the combined strengths of these two traditions together to help build our domestic presence in five key target countries: Germany, France, Italy, Spain and the UK. By deploying staff and expertise, we have taken the best of UBS PaineWebber’s top-class abilities in marketing, product management and innovation, technology, and training and applied them as a key catalyst to help build our European business.
A cornerstone of this European Wealth Management initiative is our ambition to hire and train up to 250 new client advisors a year. This represents an entirely new level of recruitment activity for Private Banking and has meant learning new skills from UBS PaineWebber, which hired almost 2,000 new advisors between 1998 and the start of 2001.
We have devoted much energy this year to telling this success story to potential UBS client advisors across Europe. The success of these efforts speaks for itself – by 1 January 2002 we had met our recruitment target, with 248 advisors joining us in our five target countries during the year.
|
|
|
| |
|  | |
