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UBS Names Cronje Chief Operating Officer of Investment Bank

UBS AG (UBSN), Switzerland’s biggest bank, said Andre Cronje, the former head of wealth management in the U.K. and Jersey, was appointed as chief operating officer for the investment bank.

The appointment is effective today, the Zurich-based firm said in an internal memo to employees from Andrea Orcel, head of the investment bank, and Ulrich Koerner, COO of the company.

Cronje has been with UBS since 2000. James B. Broderick, a former head of JPMorgan Chase & Co. (JPM)’s asset-management business in Europe, the Middle East and Africa, replaced Cronje in the wealth-management role earlier this month.

“Andre’s experience from investment banking, wealth management and corporate center, as well as his international perspective, is a major asset as we seek to reposition ourselves and further our partnership across the Group, and particularly with wealth management,” the memo said.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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