Broader regional management

In response to five years of strong growth and a significantly stronger core-market presence, regional management structures in the international wealth management businesses have been broadened. This development will accelerate decisionmaking processes and help UBS focus better on local client needs worldwide. Outside Switzerland, the new regional wealth management business areas are now Asia Pacific; Western Europe, Mediterranean, Middle East & Africa; North, East & Central Europe; and Americas.

In Switzerland, Business Banking has been merged with Wealth Management Switzerland into a new business area called Wealth Management & Business Banking Switzerland.

This change in management structure has not affected the reporting structure of the business as presented in UBS’s quarterly and annual financial reports.