Andreas Hoefert passed away on October 6 in New York. As our Chief Economist and Regional CIO Europe, he was a highly respected and well-liked employee of UBS, and we have extended our deepest sympathies and full support to his wife and family.

Andreas joined UBS in 1999 and served our wealth management businesses in a broad range of senior roles. His accomplishments are too numerous to list in full. He was not just an economist, but also a true economic thinker. He was fluent in multiple languages and an eloquent speaker in all of them. Andreas was well known in the media across many different countries and was an ardent sports fan who even devised his own model to project the results of the past three soccer World Cups.

Andreas's devotion to his work, to his colleagues, and to our clients was exemplary. We have lost an outstanding leader and, most of all, a dear friend. Please join us in keeping Andreas's family in our thoughts and prayers.

"Missing postcards" by Mike Ryan, Chief Investment Strategist, WM Americas