The ultra-wealthy clientele is active worldwide, and with the help of a new reward system, Stadler wants UBS relationship managers to utilize a global network system as well. When a Chinese client with UBS wants to do business in the U.S. then he should be referred internally.
These so-called referrals are key for UBS in the interface between investment bank and wealth management. «We would like to reward them,» says Stadler, without being more specific. «We are working towards a new remuneration system.»
Synergies on the Client Front
The 55-year-old UBS manager is under tremendous pressure with the fusion of the two wealth management units. One of the goals of the merger was to simplify the UHNWI business to help achieve stronger growth.
While the 2018 first-quarter results were respectable, the expectations of UBS as a global leader in managing ultra-wealthy clients are high. The UBS goal in global wealth management is to use synergies, and not only in the back- and middle-office areas.
The synergies should also apply to the client business. So there needs to be more cooperation among the thousands of UBS relationship managers. That apparently will only happen if there are financial incentives, which Stadler is now busy formulating.
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