After announcing it is merging its two main wealth management organisations, UBS has set out the list of its senior figures, with a number of changes and role adjustments.

UBS, which earlier this week announced it was merge its two main wealth management businesses, has unveiled a raft of management changes.

Martin Blessing and Tom Naratil, co-presidents of the combined business, set out membership of the global wealth management executive committee, according to an internal memorandum seen by this news service. As reported on 22 February, the Americas wealth management business of UBS will be merged with its international equivalent with effect from 1 February. Blessing is the head of the current wealth management unit, and Naratil is president of UBS Americas.

The managers also reiterated profits and growth targets for the Zurich-listed bank. “We aim to achieve a 2-4 per cent net new money growth rate annually. While our current cost income ratio (CIR) of 74 per cent is within our target range of 65 – 75 per cent, we will continue to improve efficiency, with a goal to reduce our CIR, while increasing our pre-tax profit by 10 – 15 per cent per annum over the cycle,” they said.

Here is the list of the senior committee members, with adjustments to roles mentioned where relevant:

-- Wealth Management USA (WM USA) – Brian Hull (Hull continues to lead the wealth management business in the US and Canada, to be called Wealth Management USA.

-- Wealth Management EMEA (WM EMEA) – Christine Novakovic. Novakovic joins from her most recent role as head of corporate and institutional clients for P&C and region Switzerland. She leads the UBS wealth management business in EMEA.

-- Wealth Management APAC (WM APAC) – Edmund Koh. Koh continue to lead the UBS wealth management business in APAC. 

-- Wealth Management Switzerland (WM CH) – Anton Simonet; he continues to head up the wealth management business in Switzerland.

-- Wealth Management Latin America (WM LatAm) – Sylvia Coutinho. UBS said Coutinho leads the Latam business, to be combined into a single unit.

-- Ultra-high net worth – Joe Stadler. Stadler continues to lead that business; John Mathews will continue to lead Private Wealth Management and the UHNW segment in the US, reporting to Stadler and Brian Hull.

-- Investment Platforms and Solutions (IPS) – Jason Chandler and Christian Wiesendanger. They continue to lead this business area.

-- Global Chief Investment Office (CIO) – Mark Haefele. Mike Ryan will continue to run CIO in the Americas, reporting to Haefele.

-- Chief Operating Officer (COO) – Reto Wangler. COO functions will be combined under Wangler. Wangler joins from his current role as COO for P&C and Region Switzerland. Kathleen Lynch will continue as COO for WM Americas, reporting to Wangler and, given the importance of the regulatory environment and front-to-back control agenda in the US, Lynch will continue as COO for UBS Americas, reporting to Naratil.

-- Client Strategy Officer – Paula Polito.

-- Chiefs of Staff – Barbara Hofkamp and Kate Newcomb. They will act as chiefs of sStaff for GWM/

-- Chief Risk Officer – Damian Vogel. UBS said it will combine risk functions under Vogel, who is currently CRO for P&C and Region Switzerland. Ralph Schoenrock will continue as CRO WM Americas, reporting to Bill Glass, Combined US Operations (CUSO) CRO. 

-- General Counsel – Maria Leistner. She expands her role as WM General Counsel to become the GWM General Counsel. Michael Crowl will remain as General Counsel for the Americas, reporting to Markus Diethelm.

-- Chief Financial Officer – Markus Habbel. Finance teams supporting WM and WMA will be combined and led by Habbel, who is CFO for WM. Mike McGovern will take on a new role within WM USA. 
Head of Human Resources – Dana Ritzcovan. Ritzcovan, head of of HR for WMA and the Americas, will take on this expanded role for GWM. Donna Burns will assume a new role within HR.

-- Chief Communications Officer – Marsha Askins. She will represent communications on the executive committee. Rich Morton will deputise for Askins for the executive committee.

-- UBS said that changes mean it is discussing opportunities for two senior managers: Paul Raphael (head of EEM UBS Wealth Management) and Dirk Klee COO, UBS WM). Shailesh Shah, chief risk officer for UBS WM will retire from the bank.