UBS Names Markets Leadership Teams in Next Integration Step

UBS Group AG appointed Patrick Grob head of global wealth management unified global markets, one of dozens new leadership roles in its investment bank as the Swiss lender continues to integrate former rival Credit Suisse.

(Bloomberg) — UBS Group AG appointed Patrick Grob head of global wealth management unified global markets, one of dozens new leadership roles in its investment bank as the Swiss lender continues to integrate former rival Credit Suisse.

Among the appointments announced in memos to employees were a small number of Credit Suisse bankers, including Olivier Charhon, who was named operating officer for risk and resource management for UBS investment bank. Neil Hosie, formerly head of global equities at Credit Suisse, was appointed to co-head global markets distribution.

A spokesperson for UBS confirmed the contents of the memo.

The appointments are part of the third round of management changes made in the wake of the Credit Suisse takeover. UBS appointed its key leadership team in May, with almost all top roles being filled by existing management board members or long-term UBS senior leaders.

Rob Karofsky retained his role as head of the investment bank, and named George Athanasopoulos and Jason Barron as co-heads of global markets. The bank appointed Michael Ebert, who came from Credit Suisse, to lead its investment banking division across the Americas.

UBS has shown little appetite for Credit Suisses’s investment bank since the government-brokered takeover was announced in March. It has insisted it would continue its own strategy of a smaller capital-lite securities unit.

Employees in Credit Suisse’s wealth unit, by contrast, have been told to dust off their resumes to be considered for potential management roles once the third round of appointments is completed, Bloomberg has reported.

UBS also confirmed the following appointments for the global markets team, among others:

Brent Johnson, Head of Execution Services
Dushyant Chadha, Head of Derivatives & Solutions
Natalie Horton, Head of Financing
Chris Purves, Head of Digital Platforms
David Innerdale, Head of Global Markets Risk & Trading
Thomas de Garidel, Co-Head of Global Markets APAC
Tim Wannenmacher, Co-Head of Global Markets APAC
Paolo Croce, Head of Global Markets EMEA

The leadership team for global banking will be announced later this month, according to the memo.

(Adds context on wealth unit in seventh paragraph.)

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