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UBS simplifies its management structure within Switzerland

Zurich / Basel | | Media Releases Switzerland

UBS merges its Wealth Management Switzerland and its Business Banking business areas into the new Wealth Management and Business Banking Switzerland business area.

The merger of Business Banking with the Wealth Management Switzerland business will enable an even more intensive cooperation between the two business areas. Through the merger, UBS will be able to simplify its leadership structure and accelerate its decision making process. Alain Robert, current head of Wealth Management Switzerland, will assume leadership of the new business area effective immediately.

Raoul Weil, Chairman and CEO of Global Wealth Management & Business Banking, says: "Business Banking and Wealth Management Switzerland have, for many quarters, generated excellent performances. The newly created business area will enable us to more rapidly provide solutions in the future, in order to best meet the needs of our Swiss clients."

The merger of the business areas, which should be completed by the end of the year, will have no effect on client relationships.

Alain Robert has been with UBS since 1979. Until 2002, he assumed various management functions within the Private and Corporate Clients business. Robert has been head of Wealth Management Switzerland since 2002.

Hans-Ulrich Meister, current head of Business Banking, has decided to leave the bank. UBS respects this decision and thanks Meister for his valuable contributions. Under his leadership the Business Banking business continued its successful development.