UBS Announces Global Wealth Management Reorganization
UBS Announces Global Wealth Management Reorganization

UBS Announces Global Wealth Management Reorganization

News summary

UBS is undergoing significant restructuring in its global wealth management division, consolidating various units under a new entity called GWM Solutions, led by co-heads Iqbal Khan and Rob Karofsky. This move aims to align wealth management more closely with the bank's investment services and enhance offerings for ultra-rich clients. Additionally, UBS has appointed Michael Camacho from JPMorgan to revamp its underperforming U.S. wealth management business, signaling a strategic shift to boost profitability and asset growth in the American market.

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