The attempts by UBS to become the market leader in philanthropic investments have been dealt a blow: The global head of the program has left the bank.
UBS, Switzerland’s biggest bank, in September 2014 hired Caroline Anstey as global head of UBS and Society. With this program, the bank aimed to do something about its tarnished reputation – having been in the headlines for its involvement in countless scandals including LTCM, tax avoidance, bad loans, Libor manipulations and more.
A Former World Bank Executive
Anstey had been a managing director at the World Bank, a member of the executive committee. The daughter of an Oscar-winning documentary producer became a globally acknowledged development expert. Accordingly, at UBS, she was installed high up in the hierarchy, reporting to Juerg Zeltner, the Wealth Management CEO.
Alas, Anstey is no longer with UBS. She left the company at the end of last year, according to information obtained by finews.com. UBS hasn’t yet answered to a request for information.
Sustainable Investments
UBS and Society focused on sustainable investments, philanthropy, as well as business and education. Before Anstey joined, Alex Friedman had been in charge of the program. Friedman, who has a past at the Bill Gates Foundation, made sure that sustainable investments became more common in customer portfolios.
