LOSING OUT:
She keeps Europe SE, UBS’ post-Brexit hub – arguably the least interesting thing about her job and one beset with troubles recently.
Christian Wiesendanger: The former head of IPS, or the wealth product «shelf», is left out in the cold in the revamp, though with warm words from Khan and Naratil.
The 55-year-old Wiesendanger, whose background is in Swiss private banking, may still have a role at UBS. «We look forward to benefiting from his leadership and advice in a new role within UBS in the future,» Khan and Naratil said on Tuesday.
Sara Ferrari: The family office boss’ future is unclear, but Stadler (see winners) has snagged her job – and a juicy growth order to go with it. Ferrari, another high-profile female protégé of ex-investment bank head Andrea Orcel, will support Stadler, a banker insider said. It is more likely the former Merrill Lynch investment banker will, sooner or later, seek her fortunes elsewhere.
Paula Polito: the U.S. private banker (pictured below) is giving up her job as chief strategist to the unit in exchange for a vice-chairman job in the division.
Polito, hugely influential in the U.S. but virtually unknown outside, is a champion of women and financial literacy – and that’s where Khan and Naratil plan to deploy her.
Tom Naratil: The American UBS veteran is still at the top of the wealth arm with Khan, but is seeing large parts of his 2018 strategy (together with then-co-head Martin Blessing) reversed. The initial promise of a megamerger of UBS’ brokerage and wider private bank is giving way to more regionalization – and more local say-so and accountability.
Reporting by Katharina Bart and Samuel Gerber
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