Page 1 of 2

UBS is the bank for the super rich – and Josef «Joe» Stadler wants to expand this business. His plan: a reward system for his client advisers.

Josef «Joe» Stadler has gained considerably in stature within the bank with the forming of the UBS super unit Global Wealth Management. In 2017 he prevailed in a power struggle with Europe boss Paul Raphael and out of the UHNWI segment he created a business unit with budgetary responsibility.

Then he expanded his sphere of influence with the integration of the UHNW Americas business. UBS manages some 1.2 trillion Swiss francs for super rich clients – or those with assets of more than 50 million francs.

Links With Every Second Billionaire

Stadler claims the UBS has business links with every second billionaire in the world. «And we want to significantly increase our share of  managed assets with these important clients,» he told «Handelsblatt».

Stadler is primarily targeting an increase in the «share of wallet» per client. Links to one billionaire should lead to links with several others. The catalyst for this is the global UBS network, designed to serve this globally active clientele.

Referrals Must Count

Up to now this hasn’t taken off. A client adviser in Zurich or Singapore has thus far had no incentive or interest in referring a billionaire-client on to the New York office, when the client wants to do business there.

Stadler wants to change this now. According to «Handelsblatt» the head of UHNWI is working on a new remuneration system in his unit. «When an adviser refers a client to another adviser he should be rewarded,» says Stadler.

Refining Still Needed