UBS AG, the Zurich-based investment bank, shifted leadership roles within its wealth-management Americas unit, according to a memo today from Americas Chief Executive Officer Robert McCann.
Bob Mulholland, who was head of the wealth-management adviser group, was named head of wealth management and investment solutions, according to the memo to the staff, which was obtained by Bloomberg News. Jason Chandler, who ran the unit’s ultra-high-net-worth division, is reporting to Mulholland as head of the wealth-management adviser group.
John Brown, who led wealth-management solutions, is reporting to Mulholland as head of the middle-markets business. He will also report to Brian Hull, who assumes the new title of head of strategic clients and partnerships, as leader of the team responsible for wealth-management Americas’s partnerships with the equities and fixed-income division of UBS’s investment bank.
Torie Von Alt, a spokeswoman for UBS, confirmed the contents of the memo.
Mike Schweitzer, who led wealth management Americas’s western division, is leaving the firm. He is the only departure as part of the leadership changes, said Karina Byrne, a UBS spokeswoman.
Paula Polito, who was chief marketing officer, is becoming chief strategy officer, continuing to lead marketing and adding the responsibility of the unit’s emerging affluent segment and retirement-services business.
Dan Cochran is becoming chief operating officer for wealth management Americas. He had been chief administration officer.