UBS’s Carsten Kengeter to Leave as Sam Molinaro Assumes Duties

UBS AG’s Carsten Kengeter, the former investment bank chief picked to wind down the non-core asset portfolio, is leaving the firm.

He will be succeeded by Sam Molinaro, the company wrote today in an internal memo to employees. Karina Byrne, a company spokeswoman in New York, confirmed the memo’s contents. The Financial Times reported the change earlier today.

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