UBS Americas Wealth Management is a significant player in the wealth management industry. Led by its CFO, the division provides a range of financial services to high net worth individuals.
One notable aspect of UBS Americas Wealth Management is its focus on digital innovation. This is evident in the division's use of technology to enhance client experiences and improve operational efficiency.
The division's commitment to innovation is also reflected in its investment in emerging technologies such as artificial intelligence and blockchain.
2009-2015: UBS
In 2009, Naratil was appointed chief financial officer (CFO) and chief risk officer (CRO) of UBS Wealth Management Americas, a role he held until 2011.
He then moved to Zurich, Switzerland to serve as UBS’s global CFO, succeeding John Cryan in May 2011.
Naratil joined UBS's Group Executive Board on June 1, 2011, as part of his new role.
As global CFO, Naratil was responsible for overseeing UBS's financial strategy and operations.
On January 1, 2014, Naratil was named UBS’s chief operating officer (COO) in addition to his CFO responsibilities.
He retained both his COO and CFO roles until the end of 2015.
Americas Wealth Management
Naratil led a reorganization at UBS’s US wealth management arm in June 2016 to push decision-making authority down to the firm’s 208 local managers.
The reorganization involved cutting recruitment of US advisors by 40 percent annually, as well as thinning management ranks.
Around 60 senior executives and support staff were redeployed or cut, with Naratil eliminating 20 percent of the managing directors and 10% of the executive directors working from UBS Americas’ home office.
Naratil built a SWAT team of roving experts, including specialist-lending and technology experts, to work with local advisors.
The reorganization also oversaw a simplification of the arm’s compensation plan, taking effect in 2017, which left base pay levels for advisors unchanged.
Naratil was appointed CEO of UBS Americas Holding LLC in January 2018.
He became co-president of Global Wealth Management of UBS Group AG and UBS AG alongside Martin Blessing in February 2018.
Iqbal Khan succeeded Blessing, becoming Naratil’s co-president, on October 1, 2019.
Following the reorganization, Merrill Lynch and Morgan Stanley also announced plans in 2017 to change their recruitment and compensation plans.
Frequently Asked Questions
Who is CFO of UBS?
The Group Chief Financial Officer of UBS is Todd Tuckner, a member of the Group Executive Board.
Who is Rob Karofsky?
Rob Karofsky is a senior executive at UBS, serving as Co-President of Global Wealth Management and President of Americas. He oversees strategic growth and development in the Americas region for UBS's wealth management business.
Who are the top 10 owners of UBS?
The top owners of UBS include UBS Group AG, Vanguard Group Inc, Massachusetts Financial Services Co, Ubs Asset Management Americas Inc, Dodge & Cox, Zurcher Kantonalbank, Jpmorgan Chase & Co, and Cevian Capital II GP LTD. These institutions collectively hold significant stakes in the company.
Who is the group CFO of UBS?
Todd Tuckner is the group Chief Financial Officer (CFO) of UBS, having taken over the role after a leadership reshuffle.
Sources
- https://www.marketsmedia.com/ubs-announces-new-operating-model-and-leadership-team/
- https://www.bankingdive.com/news/ermotti-rehires-former-exec-tom-naratil-cfo-ubs/649056/
- https://en.wikipedia.org/wiki/Tom_Naratil
- https://www.cfo.com/news/the-ubs-whistleblower-an-inside-story/666915/
- https://financialpost.com/pmn/business-pmn/ubs-replaces-cfo-keeps-credit-suisses-koerner-in-top-team
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