Investor releases


UBS broadens its management structure within its international wealth management business

Zurich / Basel | | Investor Releases

As a result of the strong growth of its international wealth management business, UBS is broadening its management structure. This allows UBS to further strengthen its presence in local markets and its proximity to clients.

The existing Wealth Management business with clients outside of Switzerland will be divided into four regional business areas as follows:

  • Asia Pacific (APAC) under the leadership of Kathryn Shih

  • Western Europe, Mediterranean, Middle East & Africa (WEMMEA) under the leadership of Francesco Morra

  • North, East & Central Europe (NECE) under the leadership of Juerg Zeltner

  • Wealth Management Americas (AMERICAS) under the leadership of Marten Hoekstra

Raoul Weil, Chairman and CEO Global Wealth Management & Business Banking, commented: "We have seen strong growth over the last five years. We have established the leading wealth management platform and have built a strong presence in our core markets. The further expansion of our business now calls for a strengthening of our local presence, so that we can make decisions more quickly and thereby become even closer to our clients. As a result, we will broaden the regional management structure. This will be supported by the specialist functions: Chief Financial Officer, Chief Operating Officer, Products & Services and Marketing, Segment & Client Development."

In Switzerland, UBS will merge its domestic Wealth Management and Business Banking business areas under the leadership of Alain Robert. All business areas will continue to report to Weil.

Weil continued: "We will further specialize our offerings for sophisticated clients in order to even better meet their needs. Our services are not only aligned to the amount of assets that clients have, but also increasingly to their source of wealth. An entrepreneur, for example, has different needs than a corporate executive." The Marketing, Segment & Client Development business area, under the leadership of Tom Naratil, will further develop these specialized services for clients with complex needs.

This management structure is effective immediately.

Further appointments:
Mark Branson, CEO UBS Securities Japan Ltd. will take on the function of Chief Financial Officer of Global Wealth Management & Business Banking and relocate to Zurich, Switzerland.

Anton Stadelmann, current Chief Financial Officer of Global Wealth Management & Business Banking, will become the Chief Financial Officer of Wealth Management Americas, and will be based in the US.

These appointments will become effective by 1 February 2008.

Zurich/Basel, 7 November 2007
UBS

Biographies

Mark Branson was appointed Chief Executive Officer of UBS Securities Japan Ltd. in January 2006. He also serves as a member of both the UBS Investment Bank Management Committee and the UBS Investment Bank Board. Before becoming CEO of UBS Securities Japan, Mark served in several senior management positions within the Group, most recently as Chief Communication Officer.
Previously, he held roles in operations and logistics strategy with Warburg Dillon Read and in 1999 became UBS's Head of Investor Relations. Mark was with Coopers & Lybrand for four years and Credit Suisse for three, before joining SBC Warburg in 1997. Mark is Vice Chairman of Japan's International Bankers Association and Chairman of the UBS Verbier Festival Orchestra. Mark earned an MSc from the University of Lancaster and an MA from Trinity College Cambridge.

Marten Hoekstra was appointed Head of Wealth Management US for UBS in 2005, and he became member of the Group Managing Board in 2002. From 2000 to 2005, he held various management positions at UBS Wealth Management & Business Banking in Zurich.
Mr. Hoekstra joined PaineWebber Inc. in 1983 where he held several management positions in the US prior to the merger with UBS in the year 2000. He acquired a BA in Political Science at the University of North Dakota and an MBA at the Kellog Graduate School of Management of Northwestern University.

Francesco Morra joined UBS in 2005 as Head of Wealth Management Italy and as a member of the Group Managing Board.
Before joining UBS, Mr. Morra held various management positions at The Boston Consulting Group Inc. between 1992 and 2005. He holds a PhD in economics from the University of St. Gall (Switzerland). He was born on 31 August 1967. His citizenship is Swiss-Italian.

Tom Naratil was appointed Head Market Strategy and Development in 2005 and became member of the Group Managing Board in 2002. From 2000 to 2005 he held three different management positions at UBS's Investment Products Group and Wealth Management USA.
Between 1983 and 2000, Tom Naratil held various management positions at Paine Webber Incorporated. He acquired a BA in History from Yale University, and an MBA in Economics from New York University. He was born on 1 December 1961 and is a US citizen.

Kathryn Shih was appointed Head of Wealth Management Asia Pacific in 2002 and became member of the Group Managing Board in the same year. Since 2003 she has in addition held the role of CEO of UBS Hong Kong. Between 1987 and 2002, Ms Shih held various management positions with SBC and then UBS in Hong Kong. Prior to that, she was with Citibank N.A. Hong Kong. She holds a Bachelor degree from Indiana University and a Master degree in Business Management from the Asian Institute of Management, Philippines, is conferred as Certified Financial Planner from the Institute of Financial Planners of Hong Kong, and completed the Advanced Executive Program at Northwestern University, USA. Ms Shih was born on 7 November 1958.

Anton Stadelmann has been CFO of Global Wealth Management & Business Banking since 2002. He became member of the Group Managing Board in 2002. Before that, in 2000-2002 he was Head of Financial Control at UBS Switzerland. From 1998 to 2000 he was Head of Financial Control at UBS Private and Corporate Clients. Between 1988 and 1998 Anton Stadelmann was with Union Bank of Switzerland and had various leading positions in the Corporate Client and Retail Business, as well as in the Treasury and Controlling Area. Anton Stadelmann graduated with a master in economics, history and political science from the University of Zurich.

Raoul Weil was appointed Chairman and CEO of Global Wealth Management & Business Banking on 6 July 2007. He became a member of the Group Executive Board in 2005 and was Head of Wealth Management International from 2002 until 2007.
Previous to that, he assumed different management roles in the Private Banking Division in Asia and Europe. Between 1984 and 1998, Mr. Weil was with SBC, and held various assignments within the Private Banking Division in Basel, Zurich, Monaco and New York. He graduated with a degree in economics from the University of Basel and was born on 13 November 1959. He is a Swiss citizen.

Juerg Zeltner was appointed Head of Wealth Management Benelux, Germany and Central Europe in 2007 and became a member of the Group Managing Board in the same year. From 2002 to 2005 he was CEO of UBS Wealth Management AG, Frankfurt and, since the merger of UBS subsidiaries in Germany in 2005, he is CEO of UBS Deutschland AG.
Prior to that, he held various management positions in the Private Banking Division of UBS. Between 1987 and 1998, Mr Zeltner was with SBC in various roles within the Private Banking Division in Berne, New York and Zurich. He graduated from the School of Economics and Business Administration in Berne and completed the Advanced Management Program at Harvard Business School. He was born 4 May 1967 and is a Swiss citizen.