UBS is restructuring its wealth management business in the US. There are restructurings and numerous appointments.

UBS is reorganizing its global wealth management (GWM) business in the US as of 1 January 2025, according to an internal memo.

Instead of the previous two national divisions, the business has now been reorganized into four regions, in addition to UBS International and the Wealth Advice Center. The aim is to make decisions more quickly and respond better to customer needs.

New Division into Regions

A raft of new appointments have been announced under the new structure. They include: Chris DiMuria (Northeast regional director), Julie Fox (Southeast regional director), Lauren Gorsche (West regional director), Jon Ramey (Central regional director), Rick Gonzalez (head of UBS International) and Len Golub (head of Wealth Advice Center). They will all report to Mike Camacho, head of US wealth management.

To further strengthen senior client support, Jennifer Povlitz will become vice president of GWM US, primarily serving clients on the West Coast. Povlitz and Mike Ryan will both report to Jason Chandler, chairman of GWM Americas.

UHNW Segment

According to the memo, there will be a separate cross-region advisory segment serving ultra-rich clients which is led by John Mathews.

In addition, the Global Family & Institutional Wealth (GFIW) structure will be expanded with specialized competencies from the UHNW Solutions Group (USG) and the newly created Unified Global Alternatives (UGA) to provide even better support to the largest customers.

The customer segment that has access to these specialized services now also includes clients with a net worth of over $50 million. This new «UHNW Plus» customer segment is led by Charles Otton.

Streamlining Sales and Support

Jennifer Gabrielli will continue to serve as head of USG Americas and head of UGB Americas. USG Americas will be integrated into GWM Solutions.

The sales and support teams will be streamlined and in the future, the focus will be on national sales and local commitment. This simplified structure will continue to be led by Bill Carroll.

New Hire with Experience at J.P. Morgan

Ogden Hammond will join UBS in mid-January to lead strategy for GWM Americas, reporting to Christian Koppenhoefer in the chief strategy office. Odgen has previously worked in product development in wealth management, including in a senior position at J.P. Morgan.

The US GWM marketing team is expanding and will continue to be led by Alicia Curry.